General Mills, Inc. (NYSE:GIS) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 39.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the company’s stock after selling 320 shares during the quarter. Washington Trust Advisors Inc.’s holdings in General Mills were worth $33,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. FWL Investment Management LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $25,000. Operose Advisors LLC boosted its holdings in General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares in the last quarter. Intrepid Capital Management Inc. acquired a new position in General Mills in the second quarter worth approximately $28,000. Bruce G. Allen Investments LLC bought a new position in shares of General Mills in the fourth quarter valued at $28,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of General Mills in the third quarter valued at $28,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $69.95 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The business’s 50-day moving average price is $65.14 and its two-hundred day moving average price is $64.82. The company has a market capitalization of $39.72 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. The business had revenue of $5.10 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. Analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.37%. General Mills’s dividend payout ratio (DPR) is 54.13%.

Insider Activity

In related news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at $20,523,044.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathon Nudi sold 10,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the transaction, the insider now owns 93,381 shares in the company, valued at $6,462,899.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,782 shares of company stock worth $5,057,820. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Bank of America lifted their price target on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. HSBC upped their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Evercore ISI dropped their target price on shares of General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research report on Monday, December 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.18.

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.