Leavell Investment Management Inc. Sells 573 Shares of General Mills, Inc. (NYSE:GIS)

Leavell Investment Management Inc. lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,437 shares of the company’s stock after selling 573 shares during the period. Leavell Investment Management Inc.’s holdings in General Mills were worth $1,583,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GIS. Fiera Capital Corp increased its stake in General Mills by 8.7% during the 3rd quarter. Fiera Capital Corp now owns 6,745 shares of the company’s stock worth $498,000 after acquiring an additional 540 shares during the period. Philip James Wealth Mangement LLC acquired a new stake in shares of General Mills during the 3rd quarter worth $277,000. Stiles Financial Services Inc increased its position in shares of General Mills by 1.6% in the third quarter. Stiles Financial Services Inc now owns 18,603 shares of the company’s stock worth $1,374,000 after purchasing an additional 284 shares during the period. Smith Thornton Advisors LLC acquired a new position in General Mills in the third quarter valued at about $207,000. Finally, Portside Wealth Group LLC lifted its position in General Mills by 4.9% during the third quarter. Portside Wealth Group LLC now owns 8,437 shares of the company’s stock worth $623,000 after purchasing an additional 395 shares during the period. 75.71% of the stock is owned by institutional investors.

Insider Transactions at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 approximately $2,700,411.92. 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 is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock valued at $4,657,676 in the last quarter. 0.26% of the stock is currently owned by company insiders.

General Mills Stock Up 0.9 %

Shares of NYSE:GIS opened at $65.52 on Friday. The firm has a market cap of $36.37 billion, a P/E ratio of 15.60, a P/E/G ratio of 3.39 and a beta of 0.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The business has a fifty day simple moving average of $71.60 and a 200 day simple moving average of $69.09. 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 (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’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. Analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Analyst Ratings Changes

GIS has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their price objective on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, TD Cowen raised their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.00.

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.