EverSource Wealth Advisors LLC Sells 481 Shares of General Mills, Inc. (NYSE:GIS)

EverSource Wealth Advisors LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 7,241 shares of the company’s stock after selling 481 shares during the period. EverSource Wealth Advisors LLC’s holdings in General Mills were worth $472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC grew its stake in General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Mills during the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of General Mills during the fourth quarter valued at $28,000. Authentikos Wealth Advisory LLC purchased a new stake in General Mills in the third quarter worth about $31,000. Finally, HHM Wealth Advisors LLC bought a new position in General Mills during the 3rd quarter worth about $32,000. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIS. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $62.00 to $70.00 in a research report on Wednesday, May 15th. Citigroup assumed coverage on General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price target for the company. TD Cowen lifted 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. Stifel Nicolaus reissued a “buy” rating and set a $77.00 price target on shares of General Mills in a research report on Monday, April 22nd. Finally, Barclays increased their target price on shares of General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $72.06.

Insider Buying and Selling

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jonathon Nudi sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the transaction, the insider now owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

General Mills Stock Performance

GIS traded down $0.77 on Thursday, reaching $69.58. The stock had a trading volume of 337,075 shares, compared to its average volume of 3,992,123. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $85.84. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The company has a market cap of $39.51 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 3.14 and a beta of 0.15. The business’s 50-day moving average price is $69.62 and its two-hundred day moving average price is $66.39.

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

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