1858 Wealth Management LLC Has $347,000 Position in General Mills, Inc. (NYSE:GIS)

1858 Wealth Management LLC decreased its stake in General Mills, Inc. (NYSE:GIS) by 41.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,700 shares of the company’s stock after selling 3,324 shares during the period. 1858 Wealth Management LLC’s holdings in General Mills were worth $347,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors boosted its stake in shares of General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. Legal & General Group Plc increased its position in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares during the period. Dimensional Fund Advisors LP raised its stake in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of General Mills by 7.4% in the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after purchasing an additional 369,628 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred on Friday, September 27th. The shares were 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 of the company’s stock, valued at $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,055 shares of company stock worth $1,467,311. Insiders own 0.24% of the company’s stock.

General Mills Stock Performance

General Mills stock traded down $1.02 during mid-day trading on Monday, reaching $68.91. 1,381,741 shares of the company’s stock were exchanged, compared to its average volume of 3,900,847. The firm has a market capitalization of $38.46 billion, a PE ratio of 16.23, a P/E/G ratio of 3.71 and a beta of 0.10. 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 business’s fifty day simple moving average is $72.36 and its 200 day simple moving average is $69.21. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.48%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Bank of America upped their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. TD Cowen raised their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.00.

About General Mills

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.