Stockman Wealth Management Inc. Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Stockman Wealth Management Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,415 shares of the company’s stock after selling 207 shares during the quarter. Stockman Wealth Management Inc.’s holdings in General Mills were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GIS. Nordea Investment Management AB grew its holdings in shares of General Mills by 48.7% during the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock worth $325,728,000 after buying an additional 1,654,111 shares during the last quarter. American Century Companies Inc. lifted its position in General Mills by 257.7% in the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock valued at $67,954,000 after purchasing an additional 765,070 shares during the period. International Assets Investment Management LLC lifted its position in General Mills by 6,893.6% in the fourth quarter. International Assets Investment Management LLC now owns 512,139 shares of the company’s stock valued at $33,361,000 after purchasing an additional 504,816 shares during the period. Canada Pension Plan Investment Board lifted its position in General Mills by 55.9% in the third quarter. Canada Pension Plan Investment Board now owns 1,141,913 shares of the company’s stock valued at $73,071,000 after purchasing an additional 409,588 shares during the period. Finally, HighTower Advisors LLC lifted its position in General Mills by 40.7% in the third quarter. HighTower Advisors LLC now owns 1,315,744 shares of the company’s stock valued at $84,207,000 after purchasing an additional 380,855 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at $20,523,044.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the sale, the insider now owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The disclosure for this sale can be found here. Insiders have sold a total of 77,782 shares of company stock worth $5,057,820 over the last quarter. 0.24% of the stock is owned by company insiders.

General Mills Stock Down 0.4 %

NYSE GIS traded down $0.26 during trading hours on Tuesday, hitting $70.91. The company had a trading volume of 1,247,264 shares, compared to its average volume of 4,242,121. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The firm’s 50 day moving average is $67.01 and its 200 day moving average is $65.39. The company has a market capitalization of $40.27 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.43 and a beta of 0.15. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $90.89.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the company posted $0.97 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 annualized dividend and a yield of 3.33%. General Mills’s dividend payout ratio (DPR) is 54.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup began coverage on shares of General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price objective for the company. TD Cowen lifted their price target on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their price target on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, Barclays lifted their price target on shares of General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average target price of $72.18.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.