Simplicity Wealth LLC Trims Stake in General Mills, Inc. (NYSE:GIS)

Simplicity Wealth LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 32.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,178 shares of the company's stock after selling 8,139 shares during the period. Simplicity Wealth LLC's holdings in General Mills were worth $1,095,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new position in General Mills during the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills during the 4th quarter valued at about $31,000. Bank of Jackson Hole Trust purchased a new position in General Mills during the 4th quarter valued at about $34,000. Planning Capital Management Corp increased its holdings in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock valued at $37,000 after purchasing an additional 193 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in General Mills during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday. Jefferies Financial Group lifted their price objective on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on 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 cut their price objective on 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, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.24.

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General Mills Stock Down 3.7 %

Shares of GIS traded down $2.31 during mid-day trading on Wednesday, reaching $60.03. The company had a trading volume of 5,266,534 shares, compared to its average volume of 3,962,820. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a 50-day moving average price of $60.26 and a 200 day moving average price of $65.83.

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

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.00%. General Mills's dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.