Modera Wealth Management LLC Sells 470 Shares of General Mills, Inc. (NYSE:GIS)

Modera Wealth Management LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,082 shares of the company’s stock after selling 470 shares during the quarter. Modera Wealth Management LLC’s holdings in General Mills were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GIS. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills in the 4th quarter worth approximately $31,000. Planning Capital Management Corp lifted its holdings in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in General Mills during the 4th quarter valued at approximately $34,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of General Mills during the third quarter valued at approximately $44,000. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Citigroup reduced their price objective 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Finally, Piper Sandler dropped their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. 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 stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average price target of $69.06.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

General Mills Trading Up 2.4 %

NYSE GIS opened at $62.07 on Tuesday. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The company’s 50-day moving average price is $60.46 and its 200-day moving average price is $66.18. The stock has a market cap of $34.21 billion, a PE ratio of 13.49, a PEG ratio of 1.94 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.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is 52.17%.

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.