General Mills, Inc. (NYSE:GIS) Position Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,304 shares of the company’s stock after selling 1,262 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Mills were worth $785,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC acquired a new position in General Mills during the fourth quarter worth about $30,000. Natixis Advisors LLC grew its stake in shares of General Mills by 14.3% in the 4th quarter. Natixis Advisors LLC now owns 148,861 shares of the company’s stock worth $9,493,000 after purchasing an additional 18,651 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new stake in shares of General Mills in the 4th quarter worth approximately $3,117,000. LBP AM SA lifted its stake in General Mills by 38.9% during the fourth quarter. LBP AM SA now owns 14,292 shares of the company’s stock valued at $911,000 after purchasing an additional 4,000 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in General Mills during the fourth quarter worth approximately $3,394,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $58.78 on Monday. The firm has a market cap of $32.40 billion, a P/E ratio of 12.78, a PEG ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock’s 50-day moving average is $60.00 and its two-hundred day moving average is $65.17.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.75%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Monday, March 17th. Citigroup reduced their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Bank of America dropped their price target on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Mizuho dropped their target price on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.53.

General Mills 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 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.