General Mills, Inc. (NYSE:GIS) Shares Sold by Creative Planning

Creative Planning reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,678 shares of the company’s stock after selling 33,027 shares during the period. Creative Planning’s holdings in General Mills were worth $13,934,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its holdings in shares of General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the last quarter. iA Global Asset Management Inc. raised its position in shares of General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after purchasing an additional 23,411 shares during the period. Finally, DNB Asset Management AS lifted its holdings in shares of General Mills by 10.5% in the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after purchasing an additional 11,334 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of recent research reports. Barclays upped their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler increased their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Evercore ISI reduced their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Mizuho dropped their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company boosted their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.00.

General Mills Price Performance

NYSE:GIS opened at $68.78 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $72.37 and its 200 day moving average price is $69.20. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The firm has a market cap of $38.39 billion, a P/E ratio of 15.96, a PEG ratio of 3.71 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is presently 55.68%.

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 20,055 shares of company stock worth $1,467,311 in the last three months. 0.24% of the stock is currently owned by insiders.

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.