Modera Wealth Management LLC Sells 470 Shares of General Mills, Inc. (NYSE:GIS)

Modera Wealth Management LLC lessened its stake in General Mills, Inc. (NYSE:GIS) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,082 shares of the company’s stock after selling 470 shares during the quarter. Modera Wealth Management LLC’s holdings in General Mills were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GIS. Nordea Investment Management AB increased its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. State Street Corp raised its stake in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Nepsis Inc. raised its stake in General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the last quarter. Finally, DDD Partners LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $21,776,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIS. Citigroup decreased their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Barclays lowered their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $69.06.

General Mills Stock Up 2.4 %

Shares of GIS opened at $62.07 on Tuesday. The stock has a 50 day moving average price of $60.46 and a 200 day moving average price of $66.18. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

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 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.