General Mills, Inc. (NYSE:GIS) Shares Sold by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC lowered its holdings in General Mills, Inc. (NYSE:GISFree Report) by 8.6% during the fourth quarter, Holdings Channel reports. The fund owned 8,574 shares of the company’s stock after selling 804 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in General Mills were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Rockland Trust Co. lifted its holdings in shares of General Mills by 42.5% in the 4th quarter. Rockland Trust Co. now owns 155,351 shares of the company’s stock valued at $10,120,000 after buying an additional 46,331 shares during the period. Naples Global Advisors LLC raised its position in General Mills by 2.3% during the fourth quarter. Naples Global Advisors LLC now owns 25,590 shares of the company’s stock valued at $1,667,000 after acquiring an additional 579 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in General Mills by 10.3% in the fourth quarter. Radnor Capital Management LLC now owns 4,827 shares of the company’s stock valued at $314,000 after acquiring an additional 450 shares during the period. Dynamic Advisor Solutions LLC boosted its position in General Mills by 921.1% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 59,294 shares of the company’s stock worth $3,853,000 after purchasing an additional 53,487 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Insider Activity

In related news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathon Nudi sold 7,671 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GIS. Piper Sandler lowered their price target on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, December 15th. Citigroup initiated coverage on General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 target price on the stock. Morgan Stanley upped their price target on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday. Wells Fargo & Company raised their price objective on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, TD Cowen upped their target price on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.11.

Read Our Latest Analysis on General Mills

General Mills Stock Down 1.0 %

Shares of NYSE:GIS opened at $68.76 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The business has a fifty day moving average of $64.56 and a two-hundred day moving average of $64.71. The stock has a market cap of $39.05 billion, a P/E ratio of 15.77, a PEG ratio of 2.44 and a beta of 0.15.

General Mills (NYSE:GISGet Free Report) last released its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 54.13%.

General Mills Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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