Hotchkis & Wiley Capital Management LLC Trims Stake in General Mills, Inc. (NYSE:GIS)

Hotchkis & Wiley Capital Management LLC decreased its holdings in General Mills, Inc. (NYSE:GIS) by 35.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 454,241 shares of the company’s stock after selling 249,090 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.08% of General Mills worth $33,546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Values First Advisors Inc. purchased a new position in General Mills in the third quarter valued at approximately $27,000. First Foundation Advisors grew its position in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the last quarter. Planning Capital Management Corp raised its stake in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in General Mills in the second quarter valued at $38,000. Finally, Fairscale Capital LLC acquired a new position in General Mills in the second quarter valued at $42,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by company insiders.

General Mills Trading Up 1.2 %

Shares of GIS stock opened at $67.06 on Tuesday. The firm has a market capitalization of $37.23 billion, a PE ratio of 15.97, a P/E/G ratio of 3.44 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business’s fifty day moving average price is $68.78 and its 200 day moving average price is $68.47. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last issued 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. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GIS shares. Stifel Nicolaus boosted 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. Citigroup increased their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler lifted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.67.

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.