Spire Wealth Management Sells 19,730 Shares of General Mills, Inc. (NYSE:GIS)

Spire Wealth Management trimmed its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,601 shares of the company's stock after selling 19,730 shares during the period. Spire Wealth Management's holdings in General Mills were worth $1,122,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company's stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock worth $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company's stock valued at $282,347,000 after buying an additional 263,188 shares in the last quarter. Finally, abrdn plc increased its holdings in General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company's stock worth $183,778,000 after buying an additional 92,931 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of General Mills from $71.00 to $67.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price target on General Mills from $78.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Finally, Barclays decreased their price objective on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, General Mills has an average rating of "Hold" and an average target price of $70.94.

Insider Buying and Selling at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 42,117 shares of the company's stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

General Mills Price Performance

NYSE GIS traded up $0.69 during midday trading on Wednesday, hitting $59.60. The company had a trading volume of 4,118,927 shares, compared to its average volume of 4,388,427. The firm has a 50-day moving average price of $62.73 and a 200-day moving average price of $67.27. The company has a market capitalization of $32.85 billion, a PE ratio of 12.96, a P/E/G ratio of 3.88 and a beta of 0.10. 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, Inc. has a twelve month low of $57.94 and a twelve month high of $75.90.

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 the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. General Mills's revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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. This represents a $2.40 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills's payout ratio is presently 52.17%.

General Mills 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.