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

Simplicity Wealth LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 32.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,178 shares of the company’s stock after selling 8,139 shares during the quarter. Simplicity Wealth LLC’s holdings in General Mills were worth $1,095,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GIS. Nordea Investment Management AB lifted its position in shares of General Mills by 64.5% during the fourth 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 in the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. State Street Corp lifted its position in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nepsis Inc. lifted its position in shares of General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after purchasing an additional 2,104,353 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of General Mills during the fourth quarter worth approximately $80,994,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Bank of America cut their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus cut their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.06.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

General Mills Price Performance

GIS stock opened at $64.53 on Monday. The company has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The business has a 50 day simple moving average of $60.33 and a 200-day simple moving average of $65.97. 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 issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend 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.