General Mills, Inc. (NYSE:GIS) Shares Sold by Aviso Wealth Management

Aviso Wealth Management lowered its holdings in General Mills, Inc. (NYSE:GIS) by 15.8% during the fourth quarter, Holdings Channel reports. The fund owned 26,919 shares of the company’s stock after selling 5,035 shares during the quarter. Aviso Wealth Management’s holdings in General Mills were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in General Mills by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock worth $3,325,000 after purchasing an additional 2,907 shares in the last quarter. Nwam LLC acquired a new position in General Mills during the third quarter worth $240,000. Kingsview Wealth Management LLC lifted its holdings in General Mills by 9.2% during the third quarter. Kingsview Wealth Management LLC now owns 13,412 shares of the company’s stock valued at $990,000 after purchasing an additional 1,132 shares in the last quarter. Swedbank AB grew its position in shares of General Mills by 5.1% in the third quarter. Swedbank AB now owns 543,580 shares of the company’s stock valued at $40,143,000 after purchasing an additional 26,453 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of General Mills by 134.2% during the 3rd quarter. Larson Financial Group LLC now owns 4,476 shares of the company’s stock worth $331,000 after purchasing an additional 2,565 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup decreased their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Morgan Stanley began coverage on General Mills in a report on Monday. They set an “underweight” rating and a $53.00 price target on the stock. TD Cowen cut 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $65.69.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

General Mills Stock Performance

NYSE GIS opened at $57.75 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a market cap of $31.83 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.94 and a beta of 0.06. The stock has a 50-day moving average of $59.95 and a two-hundred day moving average of $64.93. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 4.16%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is currently 52.75%.

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.