GSB Wealth Management LLC lessened its position in General Mills, Inc. (NYSE:GIS – Free Report) by 14.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,639 shares of the company’s stock after selling 2,998 shares during the period. GSB Wealth Management LLC’s holdings in General Mills were worth $1,303,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Values First Advisors Inc. purchased a new position in shares of General Mills during the third quarter valued at approximately $27,000. Capital Advisors Ltd. LLC raised its holdings in shares of General Mills by 409.8% during the first 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. RFP Financial Group LLC raised its holdings in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. First Foundation Advisors raised its holdings in shares of General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of General Mills by 40.6% during the first 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 last quarter. Institutional investors own 75.71% of the company’s stock.
Insider Buying and Selling
In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the 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 owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,555 shares of company stock worth $4,657,676. 0.24% of the stock is owned by insiders.
General Mills Stock Performance
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping 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 business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.
General Mills Dividend Announcement
The business also recently announced 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. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.55%. General Mills’s dividend payout ratio is 55.68%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GIS. The Goldman Sachs Group began coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Mizuho decreased their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Citigroup upped their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company upped their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, TD Cowen upped their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.00.
Check Out Our Latest Stock Analysis on GIS
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.
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