Keystone Wealth Services LLC Cuts Stake in General Mills, Inc. (NYSE:GIS)

Keystone Wealth Services LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,684 shares of the company’s stock after selling 370 shares during the quarter. Keystone Wealth Services LLC’s holdings in General Mills were worth $235,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position 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 worth $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. State Street Corp boosted its holdings in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nepsis Inc. boosted its holdings in shares of General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after purchasing an additional 2,104,353 shares during the last quarter. Finally, DDD Partners LLC bought a new stake in shares of General Mills in the fourth quarter worth about $21,776,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho dropped their price target on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.06.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was 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 Stock Up 2.4 %

Shares of NYSE:GIS opened at $62.07 on Tuesday. 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 business has a 50 day simple moving average of $60.46 and a two-hundred day simple moving average of $66.18. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The firm has a market capitalization of $34.21 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the company posted $1.25 EPS. General Mills’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.87%. General Mills’s payout ratio is 52.17%.

About General Mills

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.