Forte Capital LLC ADV Sells 2,218 Shares of General Mills, Inc. (NYSE:GIS)

Forte Capital LLC ADV decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,617 shares of the company’s stock after selling 2,218 shares during the quarter. Forte Capital LLC ADV’s holdings in General Mills were worth $1,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Nordea Investment Management AB boosted its stake in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. State Street Corp boosted its stake in 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 during the last quarter. Nepsis Inc. boosted its stake in General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several recent analyst reports. Bank of America reduced their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup cut their price target 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. TD Cowen cut their price target 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. Mizuho cut their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Stifel Nicolaus cut their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.88.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction on 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 directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

General Mills Price Performance

NYSE GIS opened at $59.15 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a market capitalization of $32.61 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The firm’s 50 day moving average is $61.01 and its 200-day moving average is $66.61.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 4.4 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 Thursday, May 1st. Investors of record on Thursday, April 10th will be issued 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 yield of 4.06%. General Mills’s payout ratio is 52.17%.

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.