Axxcess Wealth Management LLC Sells 3,088 Shares of General Mills, Inc. (NYSE:GIS)

Axxcess Wealth Management LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 14.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,575 shares of the company’s stock after selling 3,088 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Mills were worth $1,185,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GIS. State Street Corp raised its stake in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. Nordea Investment Management AB raised its position in shares of General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. lifted its stake 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 buying an additional 2,926,232 shares in the last quarter. Amundi boosted its holdings in General Mills by 9.7% in the 4th quarter. Amundi now owns 4,082,376 shares of the company’s stock worth $248,902,000 after buying an additional 360,368 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in General Mills by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after acquiring an additional 207,346 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several recent research reports. Mizuho reduced their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Monday. Finally, Barclays cut their price target on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.76.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

General Mills Price Performance

GIS opened at $58.31 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $32.14 billion, a P/E ratio of 12.68, a PEG ratio of 1.94 and a beta of 0.06. The stock has a 50-day moving average price of $59.99 and a 200-day moving average price of $65.37. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Equities analysts predict that General Mills, Inc. will post 4.36 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. 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 4.12%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 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.