Congress Park Capital LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Congress Park Capital LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,700 shares of the company’s stock after selling 1,500 shares during the quarter. Congress Park Capital LLC’s holdings in General Mills were worth $300,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Values First Advisors Inc. purchased a new stake in General Mills in the third quarter valued at about $27,000. Planning Capital Management Corp increased its holdings in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after buying an additional 193 shares during the period. Fairscale Capital LLC purchased a new position in General Mills during the 2nd quarter worth approximately $42,000. Catalyst Capital Advisors LLC acquired a new stake in General Mills during the 3rd quarter valued at approximately $44,000. Finally, Rise Advisors LLC increased its stake in shares of General Mills by 46.7% in the third quarter. Rise Advisors LLC now owns 606 shares of the company’s stock worth $45,000 after acquiring an additional 193 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE GIS opened at $59.21 on Friday. The stock has a market cap of $32.64 billion, a PE ratio of 12.87, a P/E/G ratio of 3.65 and a beta of 0.11. General Mills, Inc. has a twelve month low of $57.94 and a twelve month high of $75.90. The stock has a fifty day simple moving average of $63.99 and a 200-day simple moving average of $67.58. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 52.17%.

Insider Activity at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated 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 transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,541 shares of company stock worth $3,321,170. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GIS shares. TD Cowen cut their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Citigroup reduced their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and boosted their target price for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Finally, Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.31.

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.