Congress Wealth Management LLC DE Sells 10,103 Shares of General Mills, Inc. (NYSE:GIS)

Congress Wealth Management LLC DE lessened its holdings in General Mills, Inc. (NYSE:GIS) by 28.0% in the fourth quarter, HoldingsChannel reports. The fund owned 25,950 shares of the company’s stock after selling 10,103 shares during the period. Congress Wealth Management LLC DE’s holdings in General Mills were worth $1,655,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Endeavor Private Wealth Inc. bought a new stake in General Mills in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills in the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC acquired a new stake in General Mills during the fourth quarter worth approximately $32,000. Finally, Bank of Jackson Hole Trust bought a new position in General Mills during the 4th quarter worth $34,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays decreased their target price on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group upped their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Morgan Stanley initiated coverage on shares of General Mills in a research note on Monday. They issued an “underweight” rating and a $53.00 price objective on the stock. One investment 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’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and an average price target of $65.69.

General Mills Trading Up 2.2 %

NYSE GIS opened at $59.05 on Thursday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The business’s fifty day moving average is $59.97 and its 200 day moving average is $64.89. 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 company has a market cap of $32.55 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

General Mills Company 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.