Victory Capital Management Inc. Has $36.50 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Victory Capital Management Inc. trimmed its position in General Mills, Inc. (NYSE:GIS - Free Report) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,290 shares of the company's stock after selling 54,032 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of General Mills worth $36,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC boosted its stake in General Mills by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 11,845 shares of the company's stock valued at $829,000 after acquiring an additional 467 shares during the period. Vanguard Group Inc. grew its stake in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company's stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. TIAA Trust National Association increased its position in General Mills by 0.5% in the first quarter. TIAA Trust National Association now owns 46,420 shares of the company's stock worth $3,248,000 after buying an additional 212 shares during the period. Patten & Patten Inc. TN lifted its stake in General Mills by 11.2% in the first quarter. Patten & Patten Inc. TN now owns 12,506 shares of the company's stock valued at $875,000 after buying an additional 1,260 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of General Mills by 803.7% during the first quarter. Edgestream Partners L.P. now owns 28,349 shares of the company's stock valued at $1,984,000 after acquiring an additional 25,212 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm'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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company's stock, valued at approximately $1,055,870.64. This trade represents a 35.30 % 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 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They issued a "buy" rating and a $76.00 price objective on the stock. Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. 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, Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, September 19th. One equities 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 MarketBeat.com, the company has an average rating of "Hold" and an average price target of $72.67.

General Mills Stock Down 2.3 %

NYSE:GIS traded down $1.50 during trading hours on Friday, hitting $63.21. 6,785,130 shares of the company's stock traded hands, compared to its average volume of 3,683,144. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The firm has a market cap of $35.09 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.25 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock's fifty day moving average price is $70.67 and its two-hundred day moving average price is $68.84.

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 the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. On average, research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.80%. General Mills's dividend payout ratio (DPR) is presently 57.14%.

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.