Spinnaker Trust Lowers Position in General Mills, Inc. (NYSE:GIS)

Spinnaker Trust cut its stake in General Mills, Inc. (NYSE:GIS) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,388 shares of the company’s stock after selling 2,400 shares during the quarter. Spinnaker Trust’s holdings in General Mills were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. raised its stake in shares of General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after acquiring an additional 165 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after acquiring an additional 172 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of General Mills by 1.7% in the third quarter. Stratos Wealth Advisors LLC now owns 10,604 shares of the company’s stock valued at $783,000 after acquiring an additional 173 shares in the last quarter. Finally, Planning Capital Management Corp grew its holdings 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 valued at $37,000 after acquiring an additional 193 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 1.2 %

NYSE:GIS opened at $58.85 on Friday. The company has a market cap of $32.44 billion, a P/E ratio of 12.79, a P/E/G ratio of 3.82 and a beta of 0.10. The stock’s fifty day moving average price is $61.61 and its two-hundred day moving average price is $66.88. General Mills, Inc. has a 1 year low of $57.85 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

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 the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. As a group, analysts expect that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reduced 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. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average target price of $71.13.

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.