Nelson Capital Management LLC Sells 1,022 Shares of General Mills, Inc. (NYSE:GIS)

Nelson Capital Management LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 36,626 shares of the company’s stock after selling 1,022 shares during the quarter. Nelson Capital Management LLC’s holdings in General Mills were worth $2,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in General Mills by 6,114.0% during the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of General Mills by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,289 shares of the company’s stock worth $3,517,000 after purchasing an additional 8,053 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of General Mills by 5.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,669 shares of the company’s stock valued at $4,775,000 after buying an additional 3,065 shares during the last quarter. abrdn plc grew its stake in shares of General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in General Mills by 38.4% during the third quarter. Boston Financial Mangement LLC now owns 6,114 shares of the company’s stock worth $452,000 after buying an additional 1,695 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup cut their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Bank of America cut their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Barclays decreased their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Trading Up 0.4 %

Shares of GIS opened at $61.61 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The firm has a market cap of $33.96 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.94 and a beta of 0.10. The business’s fifty day moving average is $60.72 and its 200-day moving average is $66.43.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced 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 of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.90%. General Mills’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.