Abbrea Capital LLC Decreases Stock Position in General Mills, Inc. (NYSE:GIS)

Abbrea Capital LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,107 shares of the company’s stock after selling 447 shares during the quarter. Abbrea Capital LLC’s holdings in General Mills were worth $854,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GIS. Cetera Trust Company N.A acquired a new position in shares of General Mills during the 4th quarter worth approximately $50,000. Stratos Wealth Advisors LLC boosted its stake in General Mills by 1.9% during the third quarter. Stratos Wealth Advisors LLC now owns 11,278 shares of the company’s stock worth $722,000 after buying an additional 213 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in General Mills in the 4th quarter valued at $28,000. Sabal Trust CO increased its stake in shares of General Mills by 7,817.6% in the 4th quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock worth $18,902,000 after acquiring an additional 286,514 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of General Mills by 29.9% during the 4th quarter. Gradient Investments LLC now owns 2,238 shares of the company’s stock worth $146,000 after acquiring an additional 515 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on GIS. Stifel Nicolaus reaffirmed a “buy” rating and set a $77.00 target price on shares of General Mills in a research note on Monday. HSBC increased their price objective on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Citigroup started coverage on shares of General Mills in a report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.18.

General Mills Stock Performance

GIS stock traded down $0.23 on Thursday, hitting $71.38. The company’s stock had a trading volume of 2,871,203 shares, compared to its average volume of 4,259,609. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The stock has a market cap of $40.54 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.15. The firm has a 50 day moving average of $67.36 and a two-hundred day moving average of $65.49.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 annualized dividend and a yield of 3.31%. General Mills’s payout ratio is currently 54.13%.

Insider Buying and Selling at General Mills

In related news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 17,726 shares of company stock worth $1,187,811 in the last 90 days. 0.24% of the stock is owned by company insiders.

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.