DE Burlo Group Inc. Sells 163 Shares of General Mills, Inc. (NYSE:GIS)

DE Burlo Group Inc. reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,950 shares of the company’s stock after selling 163 shares during the quarter. DE Burlo Group Inc.’s holdings in General Mills were worth $1,990,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of General Mills by 2.8% in 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. American Century Companies Inc. raised its holdings in General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after acquiring an additional 263,188 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after acquiring an additional 92,931 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 over the last three months. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $63.80 on Thursday. The firm has a market cap of $35.42 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 3.26 and a beta of 0.11. The firm’s 50-day simple moving average is $70.00 and its 200-day simple moving average is $68.70. 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, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays increased their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Wells Fargo & Company cut their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. TD Cowen raised their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a 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, General Mills presently has a consensus 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.