General Mills, Inc. (NYSE:GIS) Shares Sold by Great Waters Wealth Management

Great Waters Wealth Management lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,368 shares of the company’s stock after selling 362 shares during the quarter. Great Waters Wealth Management’s holdings in General Mills were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. North Star Investment Management Corp. lifted its stake in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after acquiring an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the last quarter. Park Place Capital Corp increased its holdings in General Mills by 40.6% in the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after buying an additional 156 shares during the last quarter. Secure Asset Management LLC increased its holdings in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after buying an additional 157 shares during the last quarter. Finally, LCM Capital Management Inc increased its holdings in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS traded up $0.57 on Friday, reaching $73.61. 2,413,553 shares of the company traded hands, compared to its average volume of 3,961,171. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The company’s 50 day moving average is $71.74 and its 200-day moving average is $69.08. The stock has a market capitalization of $41.09 billion, a PE ratio of 17.08, a P/E/G ratio of 3.82 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GIS. Evercore ISI lowered their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group began coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Wells Fargo & Company boosted their price objective on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Finally, Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.73.

Insider Buying and Selling at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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. 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 this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of the company’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 transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.