Simplicity Wealth LLC Decreases Stake in General Mills, Inc. (NYSE:GIS)

Simplicity Wealth LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 28.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,317 shares of the company’s stock after selling 9,989 shares during the period. Simplicity Wealth LLC’s holdings in General Mills were worth $1,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. boosted its holdings in General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after purchasing an additional 145 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the period. Park Place Capital Corp boosted its holdings in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the period. Secure Asset Management LLC boosted its holdings in General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the period. Finally, LCM Capital Management Inc boosted its holdings in General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several analyst reports. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. cut their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Wells Fargo & Company lifted their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock 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 price objective on shares of General Mills in a report on Thursday, September 19th. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.73.

General Mills Price Performance

GIS stock opened at $70.82 on Friday. The firm’s 50-day moving average price is $72.15 and its two-hundred day moving average price is $69.18. General Mills, Inc. has a 12-month low of $61.01 and a 12-month high of $75.90. The stock has a market capitalization of $39.53 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.71 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

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

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is currently 55.68%.

Insider Activity at General Mills

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

General Mills 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.