General Mills, Inc. (NYSE:GIS) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 222,350 shares of the company's stock after selling 5,300 shares during the quarter. Gabelli Funds LLC's holdings in General Mills were worth $14,179,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GIS. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price target on shares of General Mills in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. TD Cowen decreased their price target on General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, December 19th. Mizuho dropped their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Finally, Morgan Stanley began coverage on shares of General Mills in a research note on Monday, March 24th. They issued an "underweight" rating and a $53.00 target price for the company. One 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. Based on data from MarketBeat, General Mills has an average rating of "Hold" and an average target price of $65.69.

General Mills Stock Down 2.3 %

GIS opened at $56.52 on Thursday. The company has a market cap of $31.16 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a 50-day moving average price of $59.52 and a 200 day moving average price of $63.18. 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 announced its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion during 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 revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share 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 paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.25%. General Mills's dividend payout ratio (DPR) is presently 52.75%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company's stock.

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.

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