Wedbush Securities Inc. cut its position in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 3.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,592 shares of the company’s stock after selling 514 shares during the quarter. Wedbush Securities Inc.’s holdings in General Mills were worth $853,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NuWave Investment Management LLC acquired a new stake in shares of General Mills in the fourth quarter worth approximately $28,000. Ellis Investment Partners LLC boosted its position in shares of General Mills by 81.7% in the fourth quarter. Ellis Investment Partners LLC now owns 447 shares of the company’s stock worth $30,000 after acquiring an additional 201 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of General Mills in the fourth quarter worth approximately $30,000. Dixon Hughes Goodman Wealth Advisors LLC boosted its position in shares of General Mills by 67.8% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 515 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Finally, TAP Consulting LLC acquired a new stake in shares of General Mills in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 74.63% of the company’s stock.
NYSE GIS opened at $75.79 on Friday. The company’s fifty day simple moving average is $69.90 and its 200-day simple moving average is $68.43. General Mills, Inc. has a 52 week low of $56.67 and a 52 week high of $75.96. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.09. The stock has a market cap of $45.64 billion, a P/E ratio of 20.21, a PEG ratio of 2.37 and a beta of 0.45.
General Mills (NYSE:GIS – Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. General Mills had a net margin of 12.36% and a return on equity of 23.10%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts expect that General Mills, Inc. will post 3.83 EPS for the current fiscal year.
The company also recently announced a dividend, which will be paid on Thursday, July 7th. Stockholders of record on Friday, July 8th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 7th. General Mills’s payout ratio is currently 54.40%.
Several research firms recently issued reports on GIS. Morgan Stanley raised their target price on shares of General Mills from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Friday. Credit Suisse Group raised their target price on shares of General Mills from $68.00 to $72.00 in a research report on Thursday. Piper Sandler lifted their price target on shares of General Mills from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup lifted their price target on shares of General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average price target of $72.55.
In related news, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the completion of the sale, the insider now owns 89,989 shares in the company, valued at $6,749,175. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark A. Pallot sold 2,255 shares of General Mills stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the completion of the sale, the chief accounting officer now owns 17,087 shares of the company’s stock, valued at approximately $1,275,715.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,466 shares of company stock worth $7,399,768. Corporate insiders own 0.53% of the company’s stock.
About General Mills (Get Rating)
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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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