Axxcess Wealth Management LLC Decreases Position in General Mills, Inc. (NYSE:GIS)

Axxcess Wealth Management LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 42.2% in the third quarter, HoldingsChannel reports. The firm owned 21,663 shares of the company’s stock after selling 15,822 shares during the period. Axxcess Wealth Management LLC’s holdings in General Mills were worth $1,600,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GIS. Values First Advisors Inc. purchased a new position in General Mills during the third quarter worth about $27,000. RFP Financial Group LLC grew its stake in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. First Foundation Advisors increased its holdings in shares of 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 buying an additional 400 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of General Mills in the 2nd quarter worth $38,000. Finally, Beacon Capital Management LLC boosted its holdings in General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 2.2 %

Shares of General Mills stock opened at $64.10 on Tuesday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a market capitalization of $35.59 billion, a P/E ratio of 15.60, a PEG ratio of 3.37 and a beta of 0.11. The business’s fifty day moving average price is $71.60 and its two-hundred day moving average price is $69.06. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $4.80 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.74%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred 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 transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s 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 sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. The Goldman Sachs Group started coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.00.

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.