Integrated Wealth Concepts LLC Has $1.11 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Integrated Wealth Concepts LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,989 shares of the company’s stock after selling 1,183 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in General Mills were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. increased its stake in General Mills by 6,140.4% during the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after acquiring an additional 930,271 shares during the period. International Assets Investment Management LLC raised its holdings in General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after acquiring an additional 443,202 shares in the last quarter. Legal & General Group Plc lifted its position in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GIS. Bank of America upped their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company reduced their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

General Mills stock opened at $65.06 on Monday. The stock has a 50-day simple moving average of $67.96 and a 200 day simple moving average of $68.28. The stock has a market capitalization of $36.12 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.40 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. On average, research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock worth $4,721,336 over the last 90 days. 0.26% of the stock is owned by insiders.

General Mills Company 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.