ProVise Management Group LLC Lowers Holdings in General Mills, Inc. (NYSE:GIS)

ProVise Management Group LLC cut its position in General Mills, Inc. (NYSE:GIS) by 62.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,756 shares of the company’s stock after selling 6,174 shares during the quarter. ProVise Management Group LLC’s holdings in General Mills were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladstone Institutional Advisory LLC lifted its stake in General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. J2 Capital Management Inc purchased a new stake in General Mills in the 4th quarter worth approximately $547,000. Daiwa Securities Group Inc. lifted its stake in General Mills by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock worth $4,652,000 after purchasing an additional 4,839 shares in the last quarter. Finally, 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. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of several research reports. 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. Jefferies Financial Group raised their price objective on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Piper Sandler lowered their price objective 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. Finally, Stifel Nicolaus lowered their price objective 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. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.53.

General Mills Price Performance

Shares of General Mills stock opened at $59.23 on Thursday. The firm has a market cap of $32.65 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. 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 company’s fifty day simple moving average is $60.04 and its two-hundred day simple moving average is $65.42.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

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.