General Mills, Inc. (GIS) Holdings Cut by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 6.9% during the first quarter, Holdings Channel reports. The fund owned 49,393 shares of the company’s stock after selling 3,686 shares during the period. Ropes Wealth Advisors LLC’s holdings in General Mills were worth $2,556,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Advisors LLC bought a new position in General Mills in the first quarter valued at about $31,000. Acima Private Wealth LLC bought a new position in General Mills in the fourth quarter valued at about $29,000. We Are One Seven LLC bought a new position in General Mills in the fourth quarter valued at about $30,000. Sageworth Trust Co bought a new position in General Mills in the first quarter valued at about $49,000. Finally, BDO Wealth Advisors LLC bought a new position in General Mills in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 68.89% of the company’s stock.

Shares of GIS stock traded down $0.03 during mid-day trading on Monday, reaching $51.55. 66,163 shares of the stock traded hands, compared to its average volume of 5,103,118. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $51.96. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.19 and a beta of 0.78. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that General Mills, Inc. will post 3.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.

A number of research analysts have issued reports on GIS shares. Credit Suisse Group decreased their target price on General Mills from $46.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, December 20th. Jefferies Financial Group set a $55.00 target price on General Mills and gave the company a “buy gis” rating in a research report on Monday, December 24th. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and lifted their target price for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. Morgan Stanley set a $41.00 price target on General Mills and gave the company a “hold” rating in a research note on Friday, December 21st. Finally, ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $49.91.

In related news, insider Shawn P. Ogrady sold 118,152 shares of General Mills stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the transaction, the insider now directly owns 187,891 shares of the company’s stock, valued at $9,112,713.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John R. Church sold 4,719 shares of General Mills stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares in the company, valued at $1,732,207.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 452,071 shares of company stock worth $22,112,181. 0.59% of the stock is owned by insiders.

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General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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