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

Dakota Wealth Management lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,506 shares of the company’s stock after selling 753 shares during the period. Dakota Wealth Management’s holdings in General Mills were worth $351,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after acquiring an additional 43,086 shares in the last quarter. JPMorgan Chase & Co. grew 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 worth $421,552,000 after purchasing an additional 2,926,232 shares during the period. J2 Capital Management Inc bought a new position in General Mills in the fourth quarter worth $547,000. Crossmark Global Holdings Inc. lifted its position in General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after buying an additional 104,436 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of General Mills by 64.5% during 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. 75.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lowered their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus dropped their price target on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company cut their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Finally, Bank of America raised General Mills from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $80.00 in a research note 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 company presently has an average rating of “Hold” and an average target price of $70.94.

General Mills Stock Up 1.4 %

GIS opened at $60.37 on Friday. The stock has a market capitalization of $33.28 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 3.70 and a beta of 0.11. The firm has a 50 day moving average price of $63.31 and a 200-day moving average price of $67.38. General Mills, Inc. has a twelve month low of $57.94 and a twelve 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.

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

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.98%. 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 business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now 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 legal filing with the SEC, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.