Concentrum Wealth Management Reduces Stock Position in General Mills, Inc. (NYSE:GIS)

Concentrum Wealth Management reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,345 shares of the company’s stock after selling 391 shares during the quarter. Concentrum Wealth Management’s holdings in General Mills were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Mills by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after purchasing an additional 136,895 shares during the period. Nordea Investment Management AB increased its stake in General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares in the last quarter. Norges Bank bought a new position in General Mills in the 4th quarter worth approximately $496,484,000. Finally, American Century Companies Inc. grew its stake in General Mills by 13.3% during the fourth quarter. American Century Companies Inc. now owns 5,731,471 shares of the company’s stock valued at $365,496,000 after acquiring an additional 670,642 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 2.2 %

Shares of NYSE:GIS opened at $59.64 on Monday. 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 $55.15 and a 1-year high of $75.90. The firm has a fifty day moving average price of $59.97 and a 200 day moving average price of $64.11. The stock has a market cap of $32.87 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills’s dividend payout ratio is presently 52.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Stifel Nicolaus dropped their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group upped their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Morgan Stanley assumed coverage on General Mills in a research note on Monday, March 24th. They set an “underweight” rating and a $53.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and an average target price of $65.69.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

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.