Drive Wealth Management LLC Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Drive Wealth Management LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 24.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,191 shares of the company’s stock after selling 1,040 shares during the period. Drive Wealth Management LLC’s holdings in General Mills were worth $204,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mesirow Financial Investment Management Inc. increased its stake in shares of General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after purchasing an additional 148 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after buying an additional 165 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of General Mills by 0.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after purchasing an additional 172 shares during the last quarter. RFG Advisory LLC grew its position in shares of General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after purchasing an additional 172 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its position in shares of General Mills by 1.7% in the third quarter. Stratos Wealth Advisors LLC now owns 10,604 shares of the company’s stock valued at $783,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other General Mills news, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

General Mills Trading Up 2.1 %

NYSE GIS opened at $61.63 on Tuesday. 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 market cap of $33.97 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 3.70 and a beta of 0.11. The firm has a 50 day simple moving average of $63.31 and a 200-day simple moving average of $67.45. General Mills, Inc. has a one year low of $57.94 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company earned $1.25 EPS. General Mills’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.42 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.89%. General Mills’s dividend payout ratio is currently 52.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GIS shares. Stifel Nicolaus lowered their price objective on General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company lowered their price target on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. TD Cowen decreased their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, General Mills has an average rating of “Hold” and an average price target of $70.94.

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.