General Mills, Inc. (NYSE:GIS) Shares Sold by Nelson Capital Management LLC

Nelson Capital Management LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,945 shares of the company’s stock after selling 10,625 shares during the period. General Mills makes up about 1.4% of Nelson Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Nelson Capital Management LLC’s holdings in General Mills were worth $5,441,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its position in shares of General Mills by 123,599.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after purchasing an additional 11,067,051 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in General Mills by 99,497.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,302,586 shares of the company’s stock valued at $406,708,000 after buying an additional 5,297,262 shares in the last quarter. Norges Bank acquired a new stake in General Mills during the 4th quarter valued at $382,081,000. Price T Rowe Associates Inc. MD increased its position in General Mills by 101.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after buying an additional 3,496,741 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of General Mills by 627.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,536,513 shares of the company’s stock worth $41,213,000 after acquiring an additional 3,050,525 shares during the last quarter. 75.31% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 0.4 %

NYSE GIS traded down $0.26 during mid-day trading on Friday, hitting $64.76. The company’s stock had a trading volume of 4,623,179 shares, compared to its average volume of 3,794,801. The firm has a market capitalization of $37.64 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 2.17 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.72 and a quick ratio of 0.41. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The stock’s fifty day simple moving average is $64.49 and its two-hundred day simple moving average is $73.20.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. General Mills had a net margin of 12.07% and a return on equity of 24.39%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter last year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts expect that General Mills, Inc. will post 4.48 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio is presently 57.56%.

Analyst Ratings Changes

A number of research firms recently commented on GIS. Wells Fargo & Company decreased their price objective on General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 7th. Mizuho lowered their price target on shares of General Mills from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Piper Sandler reduced their price objective on shares of General Mills from $88.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Finally, HSBC initiated coverage on General Mills in a research note on Friday, September 22nd. They set a “hold” rating and a $74.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $74.94.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.