General Mills, Inc. (NYSE:GIS) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 39.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,853 shares of the company’s stock after selling 3,132 shares during the period. Everett Harris & Co. CA’s holdings in General Mills were worth $340,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in General Mills in the 4th quarter worth $377,205,000. Massachusetts Financial Services Co. MA lifted its stake in shares of General Mills by 106.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after acquiring an additional 1,778,345 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of General Mills by 257.7% in the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after acquiring an additional 765,070 shares in the last quarter. LSV Asset Management boosted its holdings in General Mills by 165.6% in the fourth quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock valued at $68,381,000 after purchasing an additional 654,550 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in General Mills by 6,893.6% during the 4th quarter. International Assets Investment Management LLC now owns 512,139 shares of the company’s stock valued at $33,361,000 after purchasing an additional 504,816 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HSBC upped their target price on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Wells Fargo & Company cut their price target on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, June 27th. Finally, Citigroup decreased their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $70.00.

General Mills Price Performance

Shares of NYSE GIS opened at $62.87 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The firm has a market capitalization of $35.09 billion, a PE ratio of 14.64, a P/E/G ratio of 3.56 and a beta of 0.09. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $77.63. The business’s fifty day moving average price is $67.86 and its two-hundred day moving average price is $66.65.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. On average, research analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.82%. General Mills’s payout ratio is currently 54.76%.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the sale, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.