Calamos Advisors LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

Calamos Advisors LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 175,922 shares of the company’s stock after selling 2,299 shares during the quarter. Calamos Advisors LLC’s holdings in General Mills were worth $11,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Advisors LLC lifted its holdings in General Mills by 1.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 11,278 shares of the company’s stock worth $722,000 after buying an additional 213 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of General Mills in the 4th quarter worth approximately $28,000. Sabal Trust CO lifted its stake in shares of General Mills by 7,817.6% in the 4th quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock valued at $18,902,000 after purchasing an additional 286,514 shares during the period. Gradient Investments LLC lifted its stake in shares of General Mills by 29.9% in the 4th quarter. Gradient Investments LLC now owns 2,238 shares of the company’s stock valued at $146,000 after purchasing an additional 515 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of General Mills by 26.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,787 shares of the company’s stock valued at $26,759,000 after purchasing an additional 86,916 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Insiders sold 77,782 shares of company stock valued at $5,057,820 over the last 90 days. Company insiders own 0.24% of the company’s stock.

General Mills Stock Up 1.9 %

GIS stock opened at $70.41 on Friday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The business has a fifty day moving average price of $66.85 and a 200-day moving average price of $65.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $39.99 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.38 and a beta of 0.15.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 54.13%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GIS. TD Cowen raised their target price on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. HSBC raised their target price on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Barclays raised their target price on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Finally, Mizuho raised their target price on General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus price target of $72.18.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.