Klingman & Associates LLC Trims Stock Position in General Mills, Inc. (NYSE:GIS)

Klingman & Associates LLC lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 4.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,104 shares of the company’s stock after selling 251 shares during the period. Klingman & Associates LLC’s holdings in General Mills were worth $325,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in General Mills during the third quarter valued at approximately $27,000. Endeavor Private Wealth Inc. purchased a new position in General Mills during the fourth quarter valued at approximately $26,000. Planning Capital Management Corp grew its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in General Mills during the third quarter valued at approximately $44,000. Finally, Heck Capital Advisors LLC bought a new stake in General Mills during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.7 %

Shares of NYSE GIS opened at $57.94 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm’s fifty day moving average is $61.15 and its 200 day moving average is $66.66. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 3.79 and a beta of 0.10.

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 net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that General Mills, Inc. will post 4.4 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIS. Bank of America dropped 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 report on Wednesday. Mizuho dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Barclays dropped their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.88.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.