Asset Dedication LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Asset Dedication LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 35.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 972 shares of the company’s stock after selling 525 shares during the quarter. Asset Dedication LLC’s holdings in General Mills were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Nordea Investment Management AB increased 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 worth $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares in the last quarter. State Street Corp lifted its position in shares of 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 acquiring an additional 2,867,678 shares in the last quarter. Nepsis Inc. boosted its holdings in shares of General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of General Mills by 6,114.0% in the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after purchasing an additional 443,202 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the business’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 sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GIS shares. Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. TD Cowen cut their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus cut their price target on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $70.94.

General Mills Trading Up 1.3 %

NYSE:GIS opened at $60.66 on Friday. The firm has a market capitalization of $33.44 billion, a P/E ratio of 13.19, a P/E/G ratio of 3.70 and a beta of 0.11. The company has a fifty day moving average of $63.15 and a 200 day moving average of $67.36. 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 $57.94 and a 52 week high of $75.90.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

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.