Northside Capital Management LLC Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Northside Capital Management LLC lessened its holdings in General Mills, Inc. (NYSE:GIS) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,607 shares of the company’s stock after selling 704 shares during the period. Northside Capital Management LLC’s holdings in General Mills were worth $562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Bancorp Inc ME acquired a new position in shares of General Mills during the third quarter worth about $226,000. First Citizens Bank & Trust Co. lifted its position in General Mills by 11.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,866 shares of the company’s stock worth $433,000 after acquiring an additional 625 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in General Mills by 1.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 20,646 shares of the company’s stock worth $1,525,000 after acquiring an additional 286 shares during the period. Blue Trust Inc. grew its position in General Mills by 134.7% in the third quarter. Blue Trust Inc. now owns 19,894 shares of the company’s stock valued at $1,469,000 after acquiring an additional 11,418 shares in the last quarter. Finally, West Oak Capital LLC grew its position in General Mills by 8.4% in the third quarter. West Oak Capital LLC now owns 29,395 shares of the company’s stock valued at $2,171,000 after acquiring an additional 2,290 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock valued at $1,467,311 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

General Mills Trading Down 1.1 %

GIS traded down $0.75 during trading on Friday, reaching $69.93. The company had a trading volume of 3,867,882 shares, compared to its average volume of 3,913,318. The firm’s 50-day simple moving average is $72.36 and its 200 day simple moving average is $69.22. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market cap of $39.03 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIS. Wells Fargo & Company raised their target price on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Mizuho cut their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Finally, Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.