Avidian Wealth Enterprises LLC Sells 245 Shares of General Mills, Inc. (NYSE:GIS)

Avidian Wealth Enterprises LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,038 shares of the company’s stock after selling 245 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in General Mills were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. CX Institutional purchased a new position in shares of General Mills in the third quarter worth about $239,000. Good Life Advisors LLC grew its position in General Mills by 132.8% during the 3rd quarter. Good Life Advisors LLC now owns 11,044 shares of the company’s stock worth $816,000 after acquiring an additional 6,299 shares during the last quarter. Cardinal Capital Management increased its stake in General Mills by 1.1% in the 3rd quarter. Cardinal Capital Management now owns 116,929 shares of the company’s stock worth $8,635,000 after purchasing an additional 1,306 shares during the period. Ellsworth Advisors LLC lifted its position in General Mills by 105.8% in the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after purchasing an additional 74,456 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of General Mills by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 80,313 shares of the company’s stock valued at $5,931,000 after purchasing an additional 502 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $58.85 on Friday. General Mills, Inc. has a 12 month low of $57.85 and a 12 month high of $75.90. The firm has a market capitalization of $32.44 billion, a P/E ratio of 12.79, a P/E/G ratio of 3.82 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $61.74 and a two-hundred day simple moving average of $66.93.

General Mills (NYSE:GIS) last issued 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. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, equities analysts forecast that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business 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. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. General Mills’s payout ratio is currently 52.17%.

Analysts Set New Price Targets

Several brokerages recently commented on GIS. Barclays decreased their target price on shares of 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. 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 dropped their target price 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. Bank of America raised 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.13.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated 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 directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.