BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Position in General Mills, Inc. (NYSE:GIS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in General Mills, Inc. (NYSE:GIS) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,127 shares of the company’s stock after selling 14,999 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Mills were worth $6,877,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Arkadios Wealth Advisors boosted its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the period. DNB Asset Management AS raised its stake in General Mills by 10.5% during the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after acquiring an additional 11,334 shares during the last quarter. Finally, Ellsworth Advisors LLC grew its stake in shares of General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after purchasing an additional 74,456 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of GIS opened at $66.26 on Monday. 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 $68.78 and a two-hundred day moving average of $68.47. 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 $36.78 billion, a P/E ratio of 15.78, a PEG ratio of 3.44 and a beta of 0.11.

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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is presently 57.14%.

Insider Activity at General Mills

In related news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus boosted their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Citigroup raised their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.67.

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.