General Mills, Inc. (NYSE:GIS) Shares Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 50.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,000 shares of the company’s stock after selling 6,040 shares during the quarter. Signal Advisors Wealth LLC’s holdings in General Mills were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB boosted its stake in General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after purchasing an additional 323,090 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. TD Cowen decreased their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Finally, Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average target price of $71.31.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,541 shares of company stock valued at $3,321,170. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $58.32 on Thursday. The firm’s fifty day simple moving average is $64.15 and its 200-day simple moving average is $67.64. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market cap of $32.15 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. General Mills, Inc. has a fifty-two week low of $58.20 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.12%. General Mills’s dividend payout ratio is presently 52.17%.

About General Mills

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.