ING Groep NV Sells 19,924 Shares of General Mills, Inc. (NYSE:GIS)

ING Groep NV decreased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,627 shares of the company's stock after selling 19,924 shares during the period. ING Groep NV's holdings in General Mills were worth $5,511,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of General Mills in the third quarter worth about $27,000. First Foundation Advisors increased its stake in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company's stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Planning Capital Management Corp grew its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company's stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in General Mills during the second quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC lifted its position in General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company's stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Trading Down 2.3 %

General Mills stock traded down $1.50 during mid-day trading on Friday, reaching $63.21. 6,785,130 shares of the company traded hands, compared to its average volume of 3,905,717. 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 firm's 50 day moving average price is $70.67 and its 200 day moving average price is $68.85. The firm has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 3.35 and a beta of 0.11. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. 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 earned $1.09 EPS. On average, analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills's dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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 research report on Thursday, September 19th. Barclays boosted their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an "equal weight" rating in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. The Goldman Sachs Group assumed coverage on shares of General Mills in a report on Monday, August 12th. They issued a "buy" rating and a $76.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, General Mills currently has an average rating of "Hold" and a consensus price target of $72.67.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were 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 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the company's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock valued at $4,657,676 in the last three months. 0.26% of the stock is currently owned by company insiders.

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.