General Mills, Inc. (NYSE:GIS) Stake Reduced by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,866 shares of the company’s stock after selling 250 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in General Mills were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GIS. Nordea Investment Management AB boosted its position in shares of 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 purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 2,926,232 shares during the period. State Street Corp increased 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 worth $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nepsis Inc. raised its holdings in shares of General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after acquiring an additional 2,104,353 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after acquiring an additional 443,202 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GIS shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and lifted their target price for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Finally, Stifel Nicolaus reduced their price target on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.13.

Insider Activity

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

General Mills Price Performance

NYSE GIS opened at $58.85 on Friday. General Mills, Inc. has a fifty-two week low of $57.85 and a fifty-two week high of $75.90. The stock’s 50-day moving average is $61.74 and its two-hundred day moving average is $66.93. The firm has a market cap of $32.44 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. 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 quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. On average, analysts anticipate that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.08%. General Mills’s dividend payout ratio is 52.17%.

General Mills 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.