Sheets Smith Wealth Management reduced its stake in General Mills, Inc. (NYSE:GIS) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,056 shares of the company’s stock after selling 959 shares during the period. General Mills makes up 0.9% of Sheets Smith Wealth Management’s portfolio, making the stock its 29th largest holding. Sheets Smith Wealth Management’s holdings in General Mills were worth $6,001,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Engineers Gate Manager LP purchased a new position in shares of General Mills in the 3rd quarter worth $989,000. Handelsbanken Fonder AB grew its stake in shares of General Mills by 2.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 141,720 shares of the company’s stock worth $8,741,000 after buying an additional 3,000 shares in the last quarter. Level Four Advisory Services LLC grew its stake in shares of General Mills by 22.4% in the 3rd quarter. Level Four Advisory Services LLC now owns 15,847 shares of the company’s stock worth $977,000 after buying an additional 2,904 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of General Mills by 7.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 41,815 shares of the company’s stock worth $2,579,000 after buying an additional 2,739 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of General Mills by 22.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 24,609 shares of the company’s stock worth $1,518,000 after buying an additional 4,455 shares in the last quarter. Institutional investors own 68.29% of the company’s stock.
A number of equities analysts recently commented on GIS shares. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research note on Thursday, September 24th. CSFB raised shares of General Mills to an “outperform” rating and set a $67.00 price target for the company in a research note on Friday, September 25th. BidaskClub cut shares of General Mills from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 23rd. Credit Suisse Group raised shares of General Mills from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $67.00 in a research note on Friday, September 25th. Finally, Piper Sandler lifted their price target on shares of General Mills from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $63.71.
Shares of NYSE:GIS traded up $1.02 during trading hours on Wednesday, hitting $55.39. The company’s stock had a trading volume of 8,174,781 shares, compared to its average volume of 5,609,885. General Mills, Inc. has a 52 week low of $46.59 and a 52 week high of $66.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.49. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 2.19 and a beta of 0.58. The firm’s fifty day moving average price is $59.15 and its 200 day moving average price is $61.19.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 16th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.97 by $0.09. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. General Mills had a net margin of 12.78% and a return on equity of 28.46%. General Mills’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. On average, equities research analysts predict that General Mills, Inc. will post 3.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 8th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, January 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.68%. General Mills’s dividend payout ratio (DPR) is presently 56.51%.
In other General Mills news, insider Sean N. Walker sold 9,062 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $61.59, for a total transaction of $558,128.58. Following the transaction, the insider now owns 66,793 shares in the company, valued at approximately $4,113,780.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn P. Ogrady sold 6,310 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $60.77, for a total transaction of $383,458.70. Following the completion of the transaction, the insider now directly owns 129,257 shares of the company’s stock, valued at approximately $7,854,947.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,585 shares of company stock valued at $1,246,704. 0.51% of the stock is currently owned by company insiders.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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