My Legacy Advisors LLC Decreases Stake in General Mills, Inc. (NYSE:GIS)

My Legacy Advisors LLC reduced its position in General Mills, Inc. (NYSE:GISFree Report) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 9,963 shares of the company’s stock after selling 374 shares during the quarter. My Legacy Advisors LLC’s holdings in General Mills were worth $581,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the period. Nordea Investment Management AB grew its stake 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 buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 2,926,232 shares during the period. Legal & General Group Plc lifted its position in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays decreased their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lowered their price target 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. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. 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 report on Thursday, December 19th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $80.00 in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.31.

View Our Latest Stock Analysis on General Mills

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,541 shares of company stock valued at $3,321,170 over the last three months. Insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.8 %

Shares of GIS stock opened at $59.64 on Friday. The business has a 50-day moving average price of $63.76 and a two-hundred day moving average price of $67.49. General Mills, Inc. has a 12-month low of $57.94 and a 12-month high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market cap of $32.88 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.11.

General Mills (NYSE:GISGet Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (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 during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.42 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is currently 52.17%.

About General Mills

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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