Wagner Wealth Management LLC Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Wagner Wealth Management LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,251 shares of the company’s stock after selling 271 shares during the period. Wagner Wealth Management LLC’s holdings in General Mills were worth $399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in General Mills during the 3rd quarter valued at $27,000. Endeavor Private Wealth Inc. bought a new position in shares of General Mills during the fourth quarter valued at about $26,000. Planning Capital Management Corp boosted its holdings in shares of General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of General Mills in the third quarter worth about $44,000. Finally, Heck Capital Advisors LLC bought a new position in General Mills during the 4th quarter valued at approximately $38,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $58.86 on Monday. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 3.82 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90. The firm’s 50-day moving average is $62.31 and its 200 day moving average is $67.14.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Citigroup reduced their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus reduced their price target on shares of General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $78.00 to $80.00 in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.94.

Insider Buying and Selling at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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 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.