General Mills, Inc. (NYSE:GIS) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 24.6% during the 4th quarter, HoldingsChannel reports. The firm owned 3,191 shares of the company’s stock after selling 1,040 shares during the period. Drive Wealth Management LLC’s holdings in General Mills were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in General Mills by 4.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,684 shares of the company’s stock valued at $873,000 after buying an additional 631 shares during the period. Echo Wealth Management LLC boosted its holdings in shares of General Mills by 39.7% in the fourth quarter. Echo Wealth Management LLC now owns 40,396 shares of the company’s stock valued at $2,576,000 after acquiring an additional 11,474 shares in the last quarter. Juncture Wealth Strategies LLC boosted its holdings in shares of General Mills by 5.2% in the fourth quarter. Juncture Wealth Strategies LLC now owns 6,043 shares of the company’s stock valued at $385,000 after acquiring an additional 299 shares in the last quarter. Compass Wealth Management LLC increased its stake in shares of General Mills by 43.0% during the fourth quarter. Compass Wealth Management LLC now owns 1,430 shares of the company’s stock worth $91,000 after acquiring an additional 430 shares during the period. Finally, CFS Investment Advisory Services LLC purchased a new position in General Mills during the fourth quarter worth about $278,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Up 2.1 %

GIS opened at $61.63 on Tuesday. General Mills, Inc. has a 12 month low of $57.94 and a 12 month high of $75.90. The business has a 50-day moving average of $63.31 and a two-hundred day moving average of $67.45. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 3.70 and a beta of 0.11. 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 (NYSE:GIS) last issued 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 firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. On average, research analysts expect that General Mills, Inc. will post 4.42 earnings per share for the current 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. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.89%. General Mills’s payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Citigroup lowered their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.94.

Insider Buying and Selling

In other General Mills news, 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 transaction, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred 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 sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

About General Mills

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.