General Mills, Inc. (NYSE:GIS) Stock Position Cut by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 55.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,305 shares of the company’s stock after selling 19,168 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Mills were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Endeavor Private Wealth Inc. bought a new stake in General Mills during the fourth quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in shares of General Mills during the 3rd quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in shares of General Mills in the 4th quarter worth $34,000. Planning Capital Management Corp lifted its holdings in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in General Mills during the fourth quarter valued at about $38,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped 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 report on Wednesday, December 18th. Bank of America dropped their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays reduced their target price 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. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $69.88.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

General Mills Stock Up 3.1 %

NYSE:GIS opened at $61.02 on Friday. The business’s fifty day moving average price is $60.89 and its 200 day moving average price is $66.55. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.94 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 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. 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 3.93%. General Mills’s payout ratio is 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.