General Mills, Inc. (NYSE:GIS) Holdings Lowered by Wedmont Private Capital

Wedmont Private Capital lowered its stake in General Mills, Inc. (NYSE:GIS) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,232 shares of the company’s stock after selling 942 shares during the quarter. Wedmont Private Capital’s holdings in General Mills were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its position in General Mills by 105.2% during the 3rd 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 in the last quarter. State Street Corp grew its position in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Wulff Hansen & CO. raised its stake in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after purchasing an additional 930,271 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of General Mills by 6,114.0% in the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after purchasing an additional 443,202 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,541 shares of company stock valued at $3,321,170 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GIS shares. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Wells Fargo & Company reduced their price target on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays lowered their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.31.

General Mills Trading Down 0.9 %

Shares of GIS stock opened at $58.82 on Wednesday. General Mills, Inc. has a 12 month low of $58.27 and a 12 month high of $75.90. The company has a market cap of $32.42 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. 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 business’s 50 day moving average is $64.15 and its two-hundred day moving average is $67.64.

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

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid 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 4.08%. General Mills’s payout ratio is 52.17%.

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 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.