Schechter Investment Advisors LLC Lowers Holdings in General Mills, Inc. (NYSE:GIS)

Schechter Investment Advisors LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,438 shares of the company’s stock after selling 314 shares during the quarter. Schechter Investment Advisors LLC’s holdings in General Mills were worth $411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB lifted its stake in General Mills by 64.5% in 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% during the 3rd 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. Bank of New York Mellon Corp grew its position in shares of General Mills by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after purchasing an additional 207,346 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 worth $282,347,000 after purchasing an additional 263,188 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.3 %

Shares of NYSE GIS opened at $60.96 on Thursday. The business’s 50 day moving average price is $60.35 and its 200-day moving average price is $66.09. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two 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 company has a market cap of $33.60 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last released its earnings results 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. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.94%. General Mills’s dividend payout ratio (DPR) is 52.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GIS. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Bank of America reduced their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. 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. According to MarketBeat, General Mills presently has an average rating of “Hold” and an average price target of $69.06.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’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 completion of the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.