Wealth Effects LLC Sells 1,082 Shares of General Mills, Inc. (NYSE:GIS)

Wealth Effects LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,013 shares of the company’s stock after selling 1,082 shares during the period. Wealth Effects LLC’s holdings in General Mills were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB increased its position in General Mills by 64.5% during 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. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares during the period. Finally, abrdn plc lifted its holdings in General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 completion of the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports 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. Stifel Nicolaus decreased their price objective on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen lowered 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Citigroup dropped 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $70.94.

General Mills Price Performance

Shares of GIS opened at $61.63 on Tuesday. The business has a 50-day moving average of $63.31 and a 200-day moving average of $67.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 3.70 and a beta of 0.11. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data 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 net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.89%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

General Mills 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.