Intech Investment Management LLC Lowers Stake in General Mills, Inc. (NYSE:GIS)

Intech Investment Management LLC lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 30.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,005 shares of the company’s stock after selling 65,456 shares during the quarter. Intech Investment Management LLC’s holdings in General Mills were worth $11,299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Values First Advisors Inc. acquired a new stake in shares of General Mills during the third quarter worth $27,000. First Foundation Advisors boosted its stake in General Mills by 400.0% in 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. Planning Capital Management Corp grew its holdings in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of General Mills during the 2nd quarter valued at about $38,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 0.4 %

GIS opened at $64.08 on Friday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The firm has a market capitalization of $35.57 billion, a P/E ratio of 15.26, a P/E/G ratio of 3.26 and a beta of 0.11. 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 firm’s 50 day moving average is $69.82 and its 200-day moving average is $68.66.

General Mills (NYSE:GIS) last announced its 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm earned $1.09 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIS. Bank of America boosted their target price 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 upped their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company reduced their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Barclays lifted their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.67.

Insider Activity

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by insiders.

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.