Axxcess Wealth Management LLC Sells 3,088 Shares of General Mills, Inc. (NYSE:GIS)

Axxcess Wealth Management LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,575 shares of the company’s stock after selling 3,088 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Mills were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Endeavor Private Wealth Inc. bought a new stake in General Mills during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills in the fourth quarter worth $31,000. Bank of Jackson Hole Trust acquired a new stake in General Mills in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new position in General Mills during the 4th quarter worth $38,000. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIS. Bank of America decreased their price target on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Monday. Piper Sandler lowered their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Mizuho cut their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $66.76.

General Mills Stock Performance

Shares of GIS stock opened at $58.31 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $59.99 and a two-hundred day simple moving average of $65.37. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The firm has a market capitalization of $32.14 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. General Mills’s dividend payout ratio is presently 52.17%.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

General Mills 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.