General Mills, Inc. (NYSE:GIS) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lessened its position in General Mills, Inc. (NYSE:GIS) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,933 shares of the company’s stock after selling 635 shares during the period. Sky Investment Group LLC’s holdings in General Mills were worth $3,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GIS. Nordea Investment Management AB raised its holdings in General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. increased its stake in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. State Street Corp lifted its position in General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. International Assets Investment Management LLC boosted its stake in General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after buying an additional 443,202 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

General Mills stock opened at $59.64 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm’s fifty day moving average price is $63.76 and its 200 day moving average price is $67.55. The company has a market capitalization of $32.88 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.11. General Mills, Inc. has a 12-month low of $57.94 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that General Mills, Inc. will post 4.42 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.02%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,541 shares of company stock valued at $3,321,170 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price on shares of General Mills from $82.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.31.

General Mills Company 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.