Signaturefd LLC Sells 1,822 Shares of General Mills, Inc. (NYSE:GIS)

Signaturefd LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,709 shares of the company’s stock after selling 1,822 shares during the period. Signaturefd LLC’s holdings in General Mills were worth $1,703,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GIS. Gladstone Institutional Advisory LLC boosted its stake in shares of General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after acquiring an additional 268 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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 period. J2 Capital Management Inc acquired a new position in General Mills during the fourth quarter valued at approximately $547,000. Daiwa Securities Group Inc. raised its position in shares of General Mills by 7.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock valued at $4,652,000 after purchasing an additional 4,839 shares during the period. Finally, Nordea Investment Management AB lifted its stake 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 buying an additional 3,058,414 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIS has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday. TD Cowen dropped their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Bank of America decreased their target price on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler reduced their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $67.71.

General Mills Stock Performance

NYSE GIS opened at $61.01 on Tuesday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock has a market cap of $33.63 billion, a P/E ratio of 13.26, a PEG ratio of 1.94 and a beta of 0.06. The company’s 50-day simple moving average is $60.09 and its 200 day simple moving average is $65.55.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.93%. General Mills’s payout ratio is presently 52.17%.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the 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 sale, the insider now owns 42,117 shares in the company, 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. 0.26% of the stock is owned by corporate insiders.

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.