Trueblood Wealth Management LLC Sells 276 Shares of General Mills, Inc. (NYSE:GIS)

Trueblood Wealth Management LLC cut its position in General Mills, Inc. (NYSE:GIS) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,043 shares of the company’s stock after selling 276 shares during the quarter. Trueblood Wealth Management LLC’s holdings in General Mills were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Mesirow Financial Investment Management Inc. grew its stake in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares during the period. Ballentine Partners LLC lifted its holdings 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 valued at $1,097,000 after purchasing an additional 165 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in General Mills by 0.8% during the second quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after buying an additional 172 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of General Mills by 1.7% during 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. Finally, Pathway Financial Advisers LLC lifted its position in shares of General Mills by 2.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 6,789 shares of the company’s stock worth $428,000 after buying an additional 174 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s 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 in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,541 shares of company stock worth $3,321,170. 0.26% of the stock is currently owned by insiders.

General Mills Stock Performance

NYSE GIS opened at $59.64 on Monday. The stock has a market capitalization of $32.88 billion, a PE ratio of 12.97, a P/E/G ratio of 3.65 and a beta of 0.11. The business has a 50 day simple moving average of $63.76 and a two-hundred day simple moving average of $67.52. 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 1-year low of $57.94 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating 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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts predict 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. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills’s payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

GIS has been the topic of several research analyst reports. Barclays dropped their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus dropped their target price on shares of General Mills from $82.00 to $78.00 and set a “buy” 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.31.

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.