NorthCrest Asset Manangement LLC Sells 291 Shares of General Mills, Inc. (NYSE:GIS)

NorthCrest Asset Manangement LLC lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,354 shares of the company’s stock after selling 291 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in General Mills were worth $13,223,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in shares of General Mills during the third quarter valued at approximately $27,000. Planning Capital Management Corp increased its stake 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 acquiring an additional 193 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of General Mills during the 2nd quarter valued at $42,000. Catalyst Capital Advisors LLC bought a new position in General Mills in the third quarter valued at $44,000. Finally, Rise Advisors LLC increased its position in shares of General Mills by 46.7% during the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 35.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,624 shares of company stock worth $3,897,326. Company insiders own 0.26% of the company’s stock.

General Mills Stock Performance

General Mills stock traded down $1.19 during trading on Friday, reaching $59.18. The company had a trading volume of 1,182,516 shares, compared to its average volume of 3,735,700. General Mills, Inc. has a 52 week low of $59.10 and a 52 week high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. The firm’s 50-day simple moving average is $64.71 and its 200 day simple moving average is $67.74.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.06%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. Barclays dropped their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus decreased their price objective on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $80.00 in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average price target of $71.31.

About General Mills

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.