Courier Capital LLC Sells 16,065 Shares of General Mills, Inc. (NYSE:GIS)

Courier Capital LLC lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 63.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,271 shares of the company’s stock after selling 16,065 shares during the quarter. Courier Capital LLC’s holdings in General Mills were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its position in General Mills by 7.4% during the second quarter. Oppenheimer & Co. Inc. now owns 47,411 shares of the company’s stock valued at $2,999,000 after buying an additional 3,270 shares during the period. Parallel Advisors LLC grew its position in shares of General Mills by 6.0% during the 2nd quarter. Parallel Advisors LLC now owns 21,716 shares of the company’s stock valued at $1,374,000 after acquiring an additional 1,238 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of General Mills by 54.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 15,620 shares of the company’s stock valued at $988,000 after acquiring an additional 5,534 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of General Mills by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 589,423 shares of the company’s stock worth $37,287,000 after purchasing an additional 35,680 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in General Mills by 7.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,224 shares of the company’s stock worth $710,000 after purchasing an additional 758 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company decreased their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Finally, TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.31.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,541 shares of company stock worth $3,321,170 in the last three months. Insiders own 0.26% of the company’s stock.

General Mills Price Performance

NYSE:GIS opened at $59.38 on Tuesday. The company has a market capitalization of $32.73 billion, a P/E ratio of 14.14, a P/E/G ratio of 3.47 and a beta of 0.11. The business’s 50-day moving average is $64.34 and its 200 day moving average is $67.67. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12 month low of $58.27 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post 4.5 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 Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.04%. General Mills’s payout ratio is currently 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.