General Mills, Inc. (NYSE:GIS) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 43,494 shares of the company’s stock after selling 2,569 shares during the period. Principle Wealth Partners LLC’s holdings in General Mills were worth $2,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Koshinski Asset Management Inc. lifted its stake in shares of General Mills by 17.2% during the third quarter. Koshinski Asset Management Inc. now owns 3,209 shares of the company’s stock worth $205,000 after purchasing an additional 470 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of General Mills by 13.9% during the third quarter. Handelsbanken Fonder AB now owns 268,006 shares of the company’s stock worth $17,150,000 after acquiring an additional 32,676 shares during the last quarter. Wendell David Associates Inc. purchased a new stake in shares of General Mills during the third quarter worth about $322,000. Schmidt P J Investment Management Inc. increased its position in shares of General Mills by 1.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 13,588 shares of the company’s stock worth $854,000 after acquiring an additional 208 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of General Mills by 4.0% during the third quarter. Ascent Wealth Partners LLC now owns 14,388 shares of the company’s stock worth $921,000 after acquiring an additional 557 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS traded down $0.55 during trading on Friday, hitting $70.83. 4,170,378 shares of the company traded hands, compared to its average volume of 3,758,869. The stock has a market capitalization of $40.22 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.44 and a beta of 0.15. The business’s fifty day moving average is $67.65 and its 200-day moving average is $65.60. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.33%. General Mills’s dividend payout ratio is presently 54.13%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup assumed coverage on General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 target price on the stock. TD Cowen lifted their target price on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their target price on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price objective on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $72.00 price objective on shares of General Mills in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.18.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the transaction, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 17,726 shares of company stock worth $1,187,811. Company insiders own 0.24% of the company’s stock.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.