Larson Financial Group LLC Cuts Holdings in General Mills, Inc. (NYSE:GIS)

Larson Financial Group LLC lessened its stake in General Mills, Inc. (NYSE:GIS) by 23.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,419 shares of the company’s stock after selling 1,057 shares during the quarter. Larson Financial Group LLC’s holdings in General Mills were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GIS. Endeavor Private Wealth Inc. purchased a new position in General Mills in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills in the 4th quarter worth approximately $31,000. Bank of Jackson Hole Trust purchased a new position in General Mills in the 4th quarter worth approximately $34,000. Planning Capital Management Corp lifted its holdings in shares of General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Mills in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 4.8 %

GIS stock opened at $62.15 on Wednesday. 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 company has a market capitalization of $34.26 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The business’s 50 day moving average price is $60.34 and its two-hundred day moving average price is $65.87. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The business 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. As a group, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business 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 $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.86%. General Mills’s dividend payout ratio is currently 52.17%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GIS. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Mizuho lowered their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Bank of America lowered their target price on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.24.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.