General Mills, Inc. (NYSE:GIS) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,081 shares of the company’s stock after selling 2,211 shares during the quarter. Sunbelt Securities Inc.’s holdings in General Mills were worth $448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC lifted its holdings in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after acquiring an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the last quarter. Fortis Group Advisors LLC boosted its position in General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. RFP Financial Group LLC grew its stake in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co increased its position in General Mills by 769.2% in the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIS has been the subject of several recent research reports. Citigroup upped their price target on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. TD Cowen lifted their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Mizuho lowered their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.73.

General Mills Trading Up 1.0 %

Shares of NYSE:GIS opened at $74.62 on Wednesday. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The company has a 50 day moving average price of $71.30 and a 200 day moving average price of $68.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $1.09 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.22%. General Mills’s payout ratio is currently 55.68%.

Insiders Place Their Bets

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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 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.