Berkshire Asset Management LLC PA Sells 23,521 Shares of General Mills, Inc. (NYSE:GIS)

Berkshire Asset Management LLC PA lowered its position in General Mills, Inc. (NYSE:GIS - Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 433,110 shares of the company's stock after selling 23,521 shares during the period. Berkshire Asset Management LLC PA owned 0.08% of General Mills worth $26,151,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $31,000. Bank of Jackson Hole Trust acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $34,000. Planning Capital Management Corp increased its holdings in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company's stock valued at $37,000 after purchasing an additional 193 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $38,000. Institutional investors own 75.71% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 completion of the transaction, the insider now owns 42,117 shares of the company's stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

GIS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company lowered 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 report on Wednesday, February 19th. TD Cowen lowered their target price 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. Stifel Nicolaus reduced 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 report on Wednesday, February 19th. Finally, Piper Sandler reduced their price target on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. One 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $69.06.

General Mills Stock Up 3.7 %

GIS traded up $2.31 during trading on Friday, hitting $64.53. The company had a trading volume of 8,966,679 shares, compared to its average volume of 3,920,881. The company has a market capitalization of $35.57 billion, a PE ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The firm's 50-day moving average price is $60.33 and its 200 day moving average price is $66.00. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.72%. General Mills's dividend 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.