Savoir Faire Capital Management L.P. Sells 65,780 Shares of General Mills, Inc. (NYSE:GIS)

Savoir Faire Capital Management L.P. cut its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 55.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,953 shares of the company's stock after selling 65,780 shares during the quarter. General Mills makes up about 2.0% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 25th largest position. Savoir Faire Capital Management L.P.'s holdings in General Mills were worth $3,911,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GIS. Values First Advisors Inc. purchased a new stake in General Mills during the third quarter valued at about $27,000. First Foundation Advisors grew its position in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company's stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Planning Capital Management Corp increased its stake in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after purchasing an additional 193 shares during the period. TruNorth Capital Management LLC bought a new stake in General Mills in the second quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC boosted its stake in shares of 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 period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.2 %

Shares of General Mills stock traded down $0.10 during trading on Tuesday, hitting $62.78. The company's stock had a trading volume of 2,730,532 shares, compared to its average volume of 3,904,732. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a market capitalization of $34.85 billion, a PE ratio of 14.95, a P/E/G ratio of 3.25 and a beta of 0.11. The company has a fifty day simple moving average of $70.42 and a two-hundred day simple moving average of $68.78. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 business 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 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.82%. The ex-dividend date is Friday, January 10th. General Mills's dividend payout ratio (DPR) is 57.14%.

Insider Transactions at General Mills

In other 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 sale, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company's stock, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company cut their price objective on General Mills from $77.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $72.67.

General Mills Company 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.