Sonora Investment Management Group LLC Sells 1,861 Shares of General Mills, Inc. (NYSE:GIS)

Sonora Investment Management Group LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 2.2% in the 4th quarter, Holdings Channel reports. The fund owned 81,010 shares of the company’s stock after selling 1,861 shares during the quarter. Sonora Investment Management Group LLC’s holdings in General Mills were worth $5,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB increased its position in 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 buying an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 acquiring an additional 263,188 shares during the period. Finally, abrdn plc raised its stake in General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after acquiring an additional 92,931 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $60.66 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm’s fifty day simple moving average is $63.15 and its two-hundred day simple moving average is $67.36. General Mills, Inc. has a 12 month low of $57.94 and a 12 month high of $75.90. The stock has a market capitalization of $33.44 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 3.86 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Announces Dividend

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 given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.96%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity

In other General Mills news, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup decreased their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lowered their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their price objective on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.94.

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.