KBC Group NV reduced its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,009 shares of the company's stock after selling 21,940 shares during the quarter. KBC Group NV owned 0.07% of General Mills worth $29,540,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Arkadios Wealth Advisors boosted its stake in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company's stock valued at $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company's stock valued at $17,565,000 after buying an additional 43,086 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company's stock valued at $3,409,000 after purchasing an additional 23,411 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company's stock valued at $13,649,000 after acquiring an additional 104,436 shares in the last quarter. Finally, DNB Asset Management AS increased its position in shares of General Mills by 10.5% in the second quarter. DNB Asset Management AS now owns 119,106 shares of the company's stock valued at $7,535,000 after acquiring an additional 11,334 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on GIS. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, September 19th. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Wells Fargo & Company decreased their target price on General Mills from $77.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Bank of America raised their price objective on General Mills from $68.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. One 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. Based on data from MarketBeat.com, General Mills has a consensus rating of "Hold" and an average target price of $72.67.
Read Our Latest Stock Analysis on GIS
Insider Activity
In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business'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 in the company, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 over the last 90 days. Company insiders own 0.26% of the company's stock.
General Mills Trading Down 2.3 %
Shares of General Mills stock traded down $1.50 during mid-day trading on Friday, hitting $63.21. The stock had a trading volume of 6,784,886 shares, compared to its average volume of 3,905,717. The firm has a market cap of $35.09 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average of $70.91 and a two-hundred day moving average of $68.90.
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 for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company's revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.
General Mills Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, October 10th. General Mills's dividend payout ratio is presently 57.14%.
General Mills Profile
(
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.
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