Concurrent Investment Advisors LLC Sells 19,168 Shares of General Mills, Inc. (NYSE:GIS)

Concurrent Investment Advisors LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 55.6% in the 4th quarter, Holdings Channel reports. The firm owned 15,305 shares of the company’s stock after selling 19,168 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Mills were worth $976,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GIS. State Street Corp lifted 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 buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB lifted its holdings in General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. boosted its position in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the last quarter. Finally, abrdn plc raised its position in shares of General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GIS. TD Cowen decreased their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Citigroup decreased their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus dropped their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America decreased their target price on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.88.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Up 3.1 %

Shares of GIS stock opened at $61.02 on Friday. The stock has a market cap of $33.63 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.94 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. The stock has a fifty day moving average price of $60.89 and a 200 day moving average price of $66.55. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed 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 3.93%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

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.