Axxcess Wealth Management LLC reduced its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 42.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,663 shares of the company's stock after selling 15,822 shares during the quarter. Axxcess Wealth Management LLC's holdings in General Mills were worth $1,600,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company's stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares in the last quarter. Capital Research Global Investors boosted its position in shares of General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company's stock valued at $955,118,000 after buying an additional 2,488,341 shares during the last quarter. Legal & General Group Plc boosted its position in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company's stock valued at $356,151,000 after buying an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company's stock valued at $342,478,000 after buying an additional 148,235 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company's stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Institutional investors own 75.71% of the company's stock.
General Mills Stock Performance
Shares of NYSE:GIS traded up $0.16 during midday trading on Tuesday, reaching $64.26. 4,704,513 shares of the company traded hands, compared to its average volume of 3,896,689. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm has a market capitalization of $35.67 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 3.37 and a beta of 0.11. The firm's fifty day moving average price is $71.44 and its two-hundred day moving average price is $69.00.
General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the firm posted $1.09 EPS. The company's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.
General Mills Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.73%. General Mills's payout ratio is currently 57.14%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GIS. Bank of America lifted their target price on General Mills from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Argus reissued a "hold" rating on shares of General Mills in a research report on Tuesday, July 16th. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They issued a "buy" rating and a $76.00 price objective on the stock. Finally, Wells Fargo & Company boosted 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. One 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $73.00.
Read Our Latest Research Report on GIS
Insider Buying and Selling at General Mills
In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm's 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 sale, the insider now owns 36,184 shares of the company's stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares in the company, 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 have sold a total of 66,555 shares of company stock valued at $4,657,676 in the last 90 days. Corporate insiders own 0.26% of the company's stock.
About General Mills
(
Free Report)
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.
Further Reading
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