Parsons Capital Management Inc. RI Has $2.73 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Parsons Capital Management Inc. RI trimmed its stake in General Mills, Inc. (NYSE:GIS) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,754 shares of the company’s stock after selling 1,734 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in General Mills were worth $2,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in GIS. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the fourth quarter worth approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of General Mills in the third quarter worth approximately $27,000. Planning Capital Management Corp lifted its position in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in General Mills during the third quarter valued at approximately $44,000. Finally, Rise Advisors LLC raised its position in General Mills by 46.7% during the third quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after acquiring an additional 193 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on 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. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GIS shares. Stifel Nicolaus dropped their price target 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 restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Wells Fargo & Company reduced 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. Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, TD Cowen reduced their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.94.

General Mills Price Performance

NYSE GIS opened at $62.09 on Monday. The business has a 50 day simple moving average of $63.31 and a 200 day simple moving average of $67.45. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market cap of $34.23 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 3.70 and a beta of 0.11.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.87%. General Mills’s dividend 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.