Kestra Advisory Services LLC Sells 4,986 Shares of General Mills, Inc. (NYSE:GIS)

Posted by Defense World Staff on Apr 16th, 2023

Kestra Advisory Services LLC cut its position in General Mills, Inc. (NYSE:GIS – Get Rating) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,938 shares of the company’s stock after selling 4,986 shares during the quarter. Kestra Advisory Services LLC’s holdings in General Mills were worth $8,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GIS. Cibc World Market Inc. grew its stake in shares of General Mills by 4.8% in the first quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock valued at $1,492,000 after buying an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in General Mills by 45.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock valued at $397,000 after purchasing an additional 1,828 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in General Mills by 2.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock valued at $4,955,000 after purchasing an additional 1,503 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in General Mills by 2.3% during the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock valued at $18,935,000 after purchasing an additional 6,176 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in General Mills by 15.3% during the 1st quarter. Covestor Ltd now owns 1,834 shares of the company’s stock valued at $124,000 after purchasing an additional 244 shares during the last quarter. 74.48% of the stock is owned by institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, insider Bethany C. Quam sold 21,734 shares of General Mills stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $85.86, for a total value of $1,866,081.24. Following the transaction, the insider now owns 47,560 shares in the company, valued at $4,083,501.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other General Mills news, insider Jonathon Nudi sold 8,030 shares of General Mills stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $85.33, for a total value of $685,199.90. Following the transaction, the insider now owns 83,049 shares in the company, valued at $7,086,571.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bethany C. Quam sold 21,734 shares of the business’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $85.86, for a total value of $1,866,081.24. Following the sale, the insider now owns 47,560 shares in the company, valued at $4,083,501.60. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

General Mills Stock Down 0.4 %

Shares of NYSE GIS opened at $86.56 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.32 and a current ratio of 0.54. General Mills, Inc. has a 52 week low of $64.94 and a 52 week high of $88.34. The stock has a market capitalization of $50.84 billion, a P/E ratio of 18.70, a PEG ratio of 2.74 and a beta of 0.27. The stock’s fifty day moving average is $81.03 and its 200 day moving average is $81.07.

General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings results on Thursday, March 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. General Mills had a return on equity of 24.51% and a net margin of 14.04%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the business earned $0.84 earnings per share. General Mills’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts forecast that General Mills, Inc. will post 4.23 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 Monday, May 1st. Shareholders of record on Monday, April 10th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s dividend payout ratio is presently 46.65%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GIS shares. JPMorgan Chase & Co. raised their price target on General Mills from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, March 16th. UBS Group raised their price target on General Mills from $88.00 to $96.00 in a report on Monday, March 27th. Stifel Nicolaus initiated coverage on General Mills in a report on Thursday. They set a “buy” rating and a $95.00 price target for the company. Credit Suisse Group lifted their target price on General Mills from $77.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, December 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $84.00 to $86.00 in a report on Friday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $84.76.

General Mills Profile

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.