Granite Bay Wealth Management LLC Sells 18,800 Shares of General Mills, Inc. (NYSE:GIS)

Granite Bay Wealth Management LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 49.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,063 shares of the company’s stock after selling 18,800 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in General Mills were worth $1,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FWL Investment Management LLC bought a new position in shares of General Mills during the fourth quarter worth $25,000. Almanack Investment Partners LLC. bought a new position in shares of General Mills during the third quarter worth $28,000. Operose Advisors LLC boosted its position in shares of General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of General Mills during the fourth quarter worth $28,000. Finally, HWG Holdings LP boosted its position in shares of General Mills by 107.4% during the second quarter. HWG Holdings LP now owns 450 shares of the company’s stock worth $35,000 after purchasing an additional 233 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of General Mills stock traded down $0.80 during trading on Friday, hitting $66.20. 3,371,932 shares of the stock were exchanged, compared to its average volume of 4,954,941. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.15. The company has a fifty day moving average price of $66.36 and a 200-day moving average price of $65.14. 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.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 3.56%. General Mills’s dividend payout ratio is presently 54.13%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Bank of America raised their price objective on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. TD Cowen raised their price objective on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Finally, Mizuho raised their price objective on shares of General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.18.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Insiders have sold 77,782 shares of company stock worth $5,057,820 in the last ninety days. Insiders own 0.24% 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.