SevenBridge Financial Group LLC Sells 338 Shares of General Mills, Inc. (NYSE:GIS)

SevenBridge Financial Group LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,039 shares of the company’s stock after selling 338 shares during the quarter. SevenBridge Financial Group LLC’s holdings in General Mills were worth $594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Values First Advisors Inc. purchased a new position in shares of General Mills in the third quarter worth $27,000. First Foundation Advisors raised its position 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 lifted its stake in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of General Mills during the 2nd quarter valued at about $38,000. Finally, Beacon Capital Management LLC grew its stake in shares of General Mills by 47.5% in 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. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

GIS opened at $65.00 on Friday. The company has a 50 day simple moving average of $69.64 and a two-hundred day simple moving average of $68.63. 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 firm has a market cap of $36.09 billion, a P/E ratio of 15.48, a PEG ratio of 3.33 and a beta of 0.11. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results 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. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share 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. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Bank of America increased their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada restated 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 analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $72.67.

Insider Buying and Selling

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

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.