General Mills, Inc. (NYSE:GIS) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 26.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,311 shares of the company’s stock after selling 1,903 shares during the quarter. Summit Trail Advisors LLC’s holdings in General Mills were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in shares of General Mills in the third quarter valued at about $27,000. First Foundation Advisors lifted its holdings in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the period. Planning Capital Management Corp boosted its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares in the last quarter. Beacon Capital Management LLC grew its holdings in General Mills by 47.5% during the first 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. Finally, Catalyst Capital Advisors LLC purchased a new position in General Mills in the third quarter worth $44,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GIS shares. Citigroup boosted their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company dropped their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Piper Sandler raised their price objective 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 equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.67.

General Mills Stock Performance

Shares of NYSE GIS opened at $66.02 on Wednesday. The company has a 50-day simple moving average of $69.29 and a 200-day simple moving average of $68.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The company has a market cap of $36.65 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 3.38 and a beta of 0.11. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 EPS 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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company earned $1.09 EPS. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Insider Buying and Selling at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 in the last 90 days. 0.26% of the stock is owned by company insiders.

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.