Envestnet Portfolio Solutions Inc. Has $785,000 Stock Position in General Mills, Inc. (NYSE:GIS)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,304 shares of the company’s stock after selling 1,262 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Mills were worth $785,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GIS. CBIZ Investment Advisory Services LLC bought a new position in General Mills during the fourth quarter worth $30,000. Natixis Advisors LLC increased its holdings in shares of General Mills by 14.3% during the 4th quarter. Natixis Advisors LLC now owns 148,861 shares of the company’s stock worth $9,493,000 after purchasing an additional 18,651 shares during the period. Alpine Woods Capital Investors LLC acquired a new position in shares of General Mills during the fourth quarter valued at about $3,117,000. LBP AM SA lifted its stake in shares of General Mills by 38.9% in the fourth quarter. LBP AM SA now owns 14,292 shares of the company’s stock valued at $911,000 after buying an additional 4,000 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in General Mills during the fourth quarter worth about $3,394,000. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 0.8 %

GIS stock opened at $58.78 on Monday. The business has a fifty day moving average price of $60.00 and a 200 day moving average price of $65.17. 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 fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock has a market capitalization of $32.40 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. Analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. General Mills’s payout ratio is 52.75%.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GIS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Monday, March 17th. Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America dropped their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $66.53.

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.