Alpha Cubed Investments LLC Lowers Stock Holdings in General Mills, Inc. (NYSE:GIS)

Alpha Cubed Investments LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,568 shares of the company’s stock after selling 1,401 shares during the period. Alpha Cubed Investments LLC’s holdings in General Mills were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in shares of 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 grew its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the last quarter. Fortis Group Advisors LLC increased its stake 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 in the last quarter. RFP Financial Group LLC raised its holdings in General Mills by 66.3% in the first 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 lifted its stake in shares of 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 in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction on 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 in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

GIS has been the subject of several analyst reports. Citigroup raised their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Piper Sandler upped 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. JPMorgan Chase & Co. dropped their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Finally, TD Cowen lifted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.73.

General Mills Stock Performance

Shares of GIS opened at $72.49 on Wednesday. The business has a 50-day simple moving average of $71.86 and a two-hundred day simple moving average of $69.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 52 week low of $61.01 and a 52 week high of $75.90. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.82 and a beta of 0.10.

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

General Mills Dividend Announcement

The business 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. This represents a $2.40 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

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.