Courier Capital LLC Sells 16,065 Shares of General Mills, Inc. (NYSE:GIS)

Courier Capital LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 63.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,271 shares of the company’s stock after selling 16,065 shares during the period. Courier Capital LLC’s holdings in General Mills were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC grew its holdings in shares of General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after purchasing an additional 43,086 shares during the last quarter. JPMorgan Chase & Co. grew its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after acquiring an additional 104,436 shares during the period. Nordea Investment Management AB raised its stake in shares of General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. Finally, Ellsworth Advisors LLC boosted its holdings in shares of General Mills by 105.8% in the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after purchasing an additional 74,456 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,541 shares of company stock worth $3,321,170. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of GIS stock opened at $59.38 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The company has a market cap of $32.73 billion, a PE ratio of 14.14, a PEG ratio of 3.47 and a beta of 0.11. General Mills, Inc. has a 12-month low of $58.27 and a 12-month high of $75.90. The business’s fifty day simple moving average is $64.34 and its 200-day simple moving average is $67.67.

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

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is presently 52.17%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup lowered their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Barclays cut their target price 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. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. 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. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $71.31.

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.