General Mills, Inc. (NYSE:GIS) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,763 shares of the company’s stock after selling 5,820 shares during the period. MetLife Investment Management LLC’s holdings in General Mills were worth $10,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GIS. Janus Henderson Group PLC boosted its holdings in General Mills by 1.3% in the first quarter. Janus Henderson Group PLC now owns 91,230 shares of the company’s stock valued at $6,382,000 after purchasing an additional 1,141 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of General Mills by 21.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the company’s stock valued at $1,025,000 after buying an additional 2,865 shares in the last quarter. Comerica Bank grew its position in shares of General Mills by 5.6% in the 1st quarter. Comerica Bank now owns 202,303 shares of the company’s stock valued at $14,155,000 after buying an additional 10,712 shares during the last quarter. Swedbank AB acquired a new stake in General Mills during the 1st quarter worth $36,177,000. Finally, Atria Investments Inc lifted its position in General Mills by 18.8% in the first quarter. Atria Investments Inc now owns 36,548 shares of the company’s stock valued at $2,557,000 after acquiring an additional 5,778 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GIS shares. Wells Fargo & Company dropped their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. Finally, TD Cowen upped their price target on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.67.

Insider Buying and Selling

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction dated 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 directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of GIS opened at $66.23 on Friday. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The stock has a market cap of $36.77 billion, a P/E ratio of 15.77, a PEG ratio of 3.41 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average of $68.94 and a two-hundred day moving average of $68.52.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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 the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is currently 57.14%.

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.