Wealth Effects LLC Has $1.72 Million Stake in General Mills, Inc. (NYSE:GIS)

Wealth Effects LLC lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,013 shares of the company’s stock after selling 1,082 shares during the quarter. Wealth Effects LLC’s holdings in General Mills were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Nordea Investment Management AB lifted its position in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the period. State Street Corp boosted its position in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. Nepsis Inc. grew its stake in shares of General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in General Mills by 6,114.0% during the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GIS has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus decreased their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Bank of America raised General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $80.00 in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.94.

General Mills Stock Up 2.1 %

Shares of NYSE GIS opened at $61.63 on Tuesday. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90. The firm’s 50-day moving average is $63.31 and its 200-day moving average is $67.45. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $33.97 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 3.70 and a beta of 0.11.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.42 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.89%. General Mills’s payout ratio is currently 52.17%.

About General Mills

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.