Adell Harriman & Carpenter Inc. Decreases Stock Position in General Mills, Inc. (NYSE:GIS)

Adell Harriman & Carpenter Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,866 shares of the company’s stock after selling 250 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in General Mills were worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GIS. Janney Montgomery Scott LLC lifted its stake 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 acquiring an additional 43,086 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of General Mills by 105.2% during the 3rd 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. J2 Capital Management Inc bought a new stake in shares of General Mills in the fourth quarter worth $547,000. Crossmark Global Holdings Inc. grew its holdings in General Mills by 129.9% during the 3rd 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 in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $58.85 on Friday. The company has a 50-day moving average price of $61.74 and a two-hundred day moving average price of $66.93. The stock has a market cap of $32.44 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $57.85 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. General Mills’s dividend payout ratio is presently 52.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and increased their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus lowered their price target on General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a report on Friday, January 24th. Mizuho dropped their price target on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Barclays decreased their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.13.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.