Good Life Advisors LLC Trims Stake in General Mills, Inc. (NYSE:GIS)

Good Life Advisors LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 55.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,876 shares of the company’s stock after selling 6,168 shares during the period. Good Life Advisors LLC’s holdings in General Mills were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Gladstone Institutional Advisory LLC lifted its position in shares of General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after buying an additional 268 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in General Mills by 22.1% during 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 during the period. JPMorgan Chase & Co. raised its stake in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc purchased a new position in General Mills during the fourth quarter valued at approximately $547,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America lowered their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. TD Cowen dropped their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Citigroup decreased their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho dropped their price target on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.88.

General Mills Price Performance

General Mills stock opened at $59.15 on Friday. General Mills, Inc. has a 52-week low of $55.15 and a 52-week 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. The firm’s fifty day moving average is $61.01 and its 200 day moving average is $66.61. The company has a market cap of $32.61 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the company earned $1.25 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

Insider Transactions at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, 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 through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.