Bragg Financial Advisors Inc Sells 560 Shares of General Mills, Inc. (NYSE:GIS)

Bragg Financial Advisors Inc trimmed its position in General Mills, Inc. (NYSE:GIS) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,971 shares of the company’s stock after selling 560 shares during the quarter. Bragg Financial Advisors Inc’s holdings in General Mills were worth $1,274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of General Mills by 1.2% during the third quarter. Barclays PLC now owns 1,634,280 shares of the company’s stock worth $120,691,000 after purchasing an additional 19,290 shares during the period. Bard Financial Services Inc. increased its position in shares of General Mills by 0.6% in the third quarter. Bard Financial Services Inc. now owns 108,475 shares of the company’s stock worth $8,011,000 after purchasing an additional 700 shares during the period. Sanctuary Advisors LLC lifted its position in General Mills by 16.2% during the third quarter. Sanctuary Advisors LLC now owns 58,822 shares of the company’s stock worth $4,344,000 after purchasing an additional 8,207 shares during the period. World Investment Advisors LLC acquired a new stake in General Mills during the third quarter worth about $403,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of General Mills by 138.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 37,487 shares of the company’s stock worth $2,768,000 after acquiring an additional 21,790 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated 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 $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

General Mills Trading Up 1.3 %

NYSE:GIS opened at $57.92 on Monday. 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 $59.61 and its 200-day moving average is $63.37. The firm has a market cap of $31.93 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92.

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

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.14%. General Mills’s dividend payout ratio is currently 52.75%.

Wall Street Analyst Weigh In

GIS has been the subject of several recent analyst reports. TD Cowen cut their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. 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 report on Wednesday, February 19th. Morgan Stanley assumed coverage on shares of General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 price target on the stock. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.69.

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.