General Mills, Inc. (NYSE:GIS) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 46,187 shares of the company’s stock after selling 1,989 shares during the period. Gulf International Bank UK Ltd’s holdings in General Mills were worth $3,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norden Group LLC bought a new position in General Mills during the 1st quarter valued at $308,000. Csenge Advisory Group lifted its holdings in shares of General Mills by 1.3% in the first quarter. Csenge Advisory Group now owns 13,007 shares of the company’s stock valued at $910,000 after buying an additional 165 shares during the period. SPC Financial Inc. boosted its stake in General Mills by 1.7% during the first quarter. SPC Financial Inc. now owns 11,785 shares of the company’s stock valued at $825,000 after buying an additional 202 shares in the last quarter. Advisory Alpha LLC grew its holdings in General Mills by 17.6% during the first quarter. Advisory Alpha LLC now owns 10,320 shares of the company’s stock worth $722,000 after acquiring an additional 1,541 shares during the period. Finally, ORG Partners LLC raised its position in General Mills by 75.1% in the first quarter. ORG Partners LLC now owns 1,602 shares of the company’s stock worth $112,000 after acquiring an additional 687 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 0.3 %

NYSE:GIS opened at $68.31 on Wednesday. The stock has a market cap of $37.92 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.51 and a beta of 0.11. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock’s 50-day moving average is $71.98 and its two-hundred day moving average is $69.18.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. General Mills’s dividend payout ratio is 57.14%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred 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 owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade 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 is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction 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 $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,555 shares of company stock valued at $4,657,676. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GIS. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. TD Cowen lifted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Barclays raised their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills 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.