General Mills, Inc. (NYSE:GIS) Shares Sold by Tobam

Tobam reduced its holdings in General Mills, Inc. (NYSE:GIS) by 37.8% during the 4th quarter, Holdings Channel reports. The fund owned 124,648 shares of the company’s stock after selling 75,769 shares during the quarter. General Mills makes up approximately 2.5% of Tobam’s portfolio, making the stock its 2nd biggest position. Tobam’s holdings in General Mills were worth $7,949,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Endeavor Private Wealth Inc. bought a new stake in shares of General Mills during the fourth quarter worth $26,000. Values First Advisors Inc. bought a new stake in General Mills during the 3rd quarter worth about $27,000. Planning Capital Management Corp increased its position in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of General Mills in the fourth quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of General Mills during the third quarter worth approximately $44,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

Shares of NYSE GIS opened at $59.13 on Friday. The business’s 50 day moving average is $62.60 and its 200-day moving average is $67.21. The firm has a market cap of $32.60 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 3.88 and a beta of 0.10. General Mills, Inc. has a 1-year low of $57.94 and a 1-year high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its quarterly 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the firm earned $1.25 earnings per share. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 4.4 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at $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 Analysts Forecast Growth

Several equities research analysts have recently commented on GIS shares. Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Stifel Nicolaus cut their price target on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.94.

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.