Cwm LLC Trims Stake in General Mills, Inc. (NYSE:GIS)

Cwm LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GISFree Report) by 14.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 259,016 shares of the company’s stock after selling 42,706 shares during the period. Cwm LLC’s holdings in General Mills were worth $16,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of General Mills by 4.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 80,703 shares of the company’s stock valued at $5,257,000 after purchasing an additional 3,438 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in General Mills by 2.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock valued at $382,000 after buying an additional 164 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in General Mills by 33.1% during the 4th quarter. Lindbrook Capital LLC now owns 3,300 shares of the company’s stock valued at $215,000 after buying an additional 820 shares in the last quarter. abrdn plc lifted its holdings in General Mills by 12.2% during the 4th quarter. abrdn plc now owns 2,216,559 shares of the company’s stock valued at $144,387,000 after buying an additional 241,655 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in General Mills by 12.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 11,220 shares of the company’s stock valued at $731,000 after buying an additional 1,229 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jonathon Nudi sold 10,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the sale, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The disclosure for this sale can be found here. Insiders have sold 77,782 shares of company stock valued at $5,057,820 over the last three months. Company insiders own 0.24% of the company’s stock.

General Mills Stock Up 1.9 %

Shares of NYSE:GIS opened at $70.42 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The stock has a market capitalization of $39.99 billion, a P/E ratio of 16.15, a PEG ratio of 2.43 and a beta of 0.15. The stock has a 50-day simple moving average of $66.85 and a 200-day simple moving average of $65.33.

General Mills (NYSE:GISGet Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 54.13%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Morgan Stanley upped their price objective on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $72.00 price objective on shares of General Mills in a report on Thursday, March 21st. HSBC increased their price target on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Bank of America upped their price objective on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $72.18.

Read Our Latest Stock Report on GIS

General Mills Profile

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GISFree Report).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.