General Mills, Inc. (NYSE:GIS) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,656,600 shares of the company’s stock after selling 15,000 shares during the period. Swiss National Bank’s holdings in General Mills were worth $122,340,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in General Mills by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock valued at $3,325,000 after purchasing an additional 2,907 shares in the last quarter. Claro Advisors LLC grew its stake in General Mills by 44.8% during the 3rd quarter. Claro Advisors LLC now owns 5,901 shares of the company’s stock worth $436,000 after buying an additional 1,825 shares during the last quarter. Ceera Investments LLC lifted its stake in General Mills by 10.4% in the third quarter. Ceera Investments LLC now owns 7,666 shares of the company’s stock valued at $566,000 after buying an additional 725 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in General Mills in the 3rd quarter valued at $772,000. Finally, South Street Advisors LLC acquired a new stake in shares of General Mills during the third quarter worth about $225,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Wells Fargo & Company lowered their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays upped their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus increased their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, General Mills has an average rating of “Hold” and an average target price of $72.67.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 over the last quarter. 0.26% of the stock is owned by company insiders.

General Mills Stock Down 0.5 %

GIS stock opened at $62.88 on Tuesday. 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, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The company has a fifty day simple moving average of $70.42 and a 200 day simple moving average of $68.78. The firm has a market cap of $34.91 billion, a PE ratio of 14.97, a PEG ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last released its 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. 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 business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.82%. General Mills’s payout ratio is currently 57.14%.

General Mills Company 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.