Patten Group Inc. Sells 1,154 Shares of General Mills, Inc. (NYSE:GIS)

Patten Group Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 7.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,214 shares of the company’s stock after selling 1,154 shares during the period. Patten Group Inc.’s holdings in General Mills were worth $906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Endeavor Private Wealth Inc. bought a new stake in General Mills in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $31,000. Bank of Jackson Hole Trust bought a new stake in shares of General Mills in the 4th quarter valued at $34,000. Planning Capital Management Corp increased its position 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 buying an additional 193 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in General Mills during the fourth quarter worth $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research analyst reports. Barclays cut their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Mizuho cut their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Bank of America lowered their target price on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Finally, Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $69.06.

General Mills Stock Performance

Shares of General Mills stock opened at $62.07 on Tuesday. The company has a market cap of $34.21 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The business has a 50 day moving average price of $60.46 and a 200-day moving average price of $66.18.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating 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 period last year, the business earned $1.25 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed 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 3.87%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

General Mills 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.