Good Life Advisors LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

Good Life Advisors LLC cut its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,876 shares of the company's stock after selling 6,168 shares during the quarter. Good Life Advisors LLC's holdings in General Mills were worth $311,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills during the fourth quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in General Mills during the 3rd quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new stake in General Mills during the 4th quarter valued at about $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 during the period. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Mills in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Price Performance

Shares of GIS stock traded up $1.83 during trading hours on Friday, hitting $61.02. 5,218,456 shares of the company's stock were exchanged, compared to its average volume of 4,668,790. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The firm has a market cap of $33.63 billion, a P/E ratio of 13.26, a P/E/G ratio of 3.76 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $61.01 and a two-hundred day moving average of $66.61.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion during 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 firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Sell-side analysts forecast that General Mills, Inc. will post 4.38 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, April 10th. General Mills's payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GIS. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Mizuho reduced their target price on shares of General Mills from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Stifel Nicolaus lowered their price target on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Wednesday. One research 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 an average rating of "Hold" and an average target price of $69.88.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

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.