Los Angeles Capital Management LLC lessened its position in General Mills, Inc. (NYSE:GIS - Free Report) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,564 shares of the company's stock after selling 20,177 shares during the period. Los Angeles Capital Management LLC's holdings in General Mills were worth $9,494,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of General Mills by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company's stock worth $1,223,000 after purchasing an additional 5,594 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of General Mills by 37.0% in the 1st quarter. Atomi Financial Group Inc. now owns 4,221 shares of the company's stock worth $295,000 after buying an additional 1,139 shares during the last quarter. Sei Investments Co. grew its position in shares of General Mills by 7.4% in the 1st quarter. Sei Investments Co. now owns 356,709 shares of the company's stock worth $24,960,000 after buying an additional 24,505 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in shares of General Mills by 4.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,297 shares of the company's stock worth $581,000 after purchasing an additional 321 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in General Mills by 9.2% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 7,445 shares of the company's stock valued at $521,000 after acquiring an additional 630 shares during the period. 75.71% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research note on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a research note on Monday, August 12th. They set a "buy" rating and a $76.00 price objective for the company. Argus reaffirmed a "hold" rating on shares of General Mills in a report on Tuesday, July 16th. Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of "Hold" and an average price target of $73.00.
Check Out Our Latest Report on General Mills
Insider Buying and Selling
In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the business's stock in a transaction on 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm'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 sale, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,555 shares of company stock worth $4,657,676. Insiders own 0.26% of the company's stock.
General Mills Stock Up 0.7 %
General Mills stock traded up $0.46 on Tuesday, hitting $64.56. 1,581,001 shares of the stock traded hands, compared to its average volume of 3,882,432. The business's fifty day simple moving average is $71.44 and its 200 day simple moving average is $69.00. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market cap of $35.84 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 3.37 and a beta of 0.11. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.
General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills's dividend payout ratio (DPR) is presently 57.14%.
General Mills Profile
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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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