Berkshire Asset Management LLC PA Sells 23,521 Shares of General Mills, Inc. (NYSE:GIS)

Berkshire Asset Management LLC PA reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 5.2% during the fourth quarter, Holdings Channel reports. The firm owned 433,110 shares of the company’s stock after selling 23,521 shares during the period. Berkshire Asset Management LLC PA’s holdings in General Mills were worth $26,151,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GIS. Endeavor Private Wealth Inc. bought a new position in shares of General Mills during the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Mills during the fourth quarter valued at about $31,000. Bank of Jackson Hole Trust bought a new position in shares of General Mills during the fourth quarter valued at about $34,000. Planning Capital Management Corp lifted its position in shares of General Mills by 61.5% during 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 in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in General Mills in the fourth quarter worth about $38,000. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. 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 research report on Wednesday, February 19th. Mizuho lowered their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Piper Sandler lowered their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.06.

General Mills Price Performance

GIS stock opened at $62.21 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The stock has a market cap of $34.29 billion, a PE ratio of 13.52, a P/E/G ratio of 1.94 and a beta of 0.10. The firm has a 50 day simple moving average of $60.32 and a two-hundred day simple moving average of $66.06.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $1.25 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.36 EPS 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. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction 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 sale, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate 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.