General Mills, Inc. (NYSE:GIS) Shares Sold by Prudential PLC

Prudential PLC cut its position in shares of General Mills, Inc. (NYSE:GIS) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 323,586 shares of the company’s stock after selling 34,309 shares during the quarter. Prudential PLC’s holdings in General Mills were worth $20,635,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Endeavor Private Wealth Inc. acquired a new stake in General Mills during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $31,000. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the 4th quarter valued at $32,000. Finally, Bank of Jackson Hole Trust purchased a new stake in General Mills during the 4th quarter worth $34,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 3.0 %

NYSE:GIS opened at $60.95 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average of $59.98 and a 200-day moving average of $64.36. The firm has a market capitalization of $33.60 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90.

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

General Mills Announces Dividend

The company 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. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.94%. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on GIS shares. TD Cowen cut their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Citigroup decreased their price target 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 lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.69.

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.