Wells Fargo & Company MN Sells 202,198 Shares of General Mills, Inc. (NYSE:GIS)

Wells Fargo & Company MN trimmed its position in General Mills, Inc. (NYSE:GIS - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,534,736 shares of the company's stock after selling 202,198 shares during the period. Wells Fargo & Company MN owned approximately 0.28% of General Mills worth $97,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC increased its holdings in shares of General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock valued at $304,000 after buying an additional 268 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of General Mills by 11.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock worth $53,211,000 after purchasing an additional 85,612 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of General Mills by 10.6% in the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock valued at $30,900,000 after purchasing an additional 46,536 shares during the period. Finally, J2 Capital Management Inc acquired a new position in shares of General Mills in the 4th quarter valued at $547,000. 75.71% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Mizuho lowered 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 report on Thursday, March 20th. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, December 19th. Bank of America decreased their target price on General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Jefferies Financial Group upped their price target on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, General Mills has a consensus rating of "Hold" and a consensus target price of $65.69.

General Mills Stock Up 1.3 %

General Mills stock traded up $0.75 during mid-day trading on Friday, hitting $57.92. 4,235,540 shares of the company's stock were exchanged, compared to its average volume of 4,406,074. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The stock has a 50 day moving average of $59.61 and a two-hundred day moving average of $63.37. The stock has a market cap of $31.93 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. As a group, analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 4.14%. General Mills's payout ratio is presently 52.75%.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm'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 value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company's stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.26% of the company's stock.

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.