General Mills, Inc. (NYSE:GIS) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lowered its position in General Mills, Inc. (NYSE:GIS) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,245 shares of the company’s stock after selling 15,031 shares during the period. Northwest & Ethical Investments L.P.’s holdings in General Mills were worth $8,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of General Mills by 6.1% in 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 during the period. Dimensional Fund Advisors LP raised its position in 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 acquiring an additional 148,235 shares in the last quarter. American Century Companies Inc. lifted its holdings in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Finally, abrdn plc boosted its position in shares of General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after purchasing an additional 92,931 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % 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. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GIS shares. Wells Fargo & Company cut their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. 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 stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and an average price target of $72.67.

General Mills Stock Up 0.4 %

GIS opened at $66.23 on Friday. The firm has a market cap of $36.77 billion, a P/E ratio of 15.77, a PEG ratio of 3.44 and a beta of 0.11. The business’s fifty day simple moving average is $68.94 and its 200 day simple moving average is $68.52. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.62%. General Mills’s payout ratio is currently 57.14%.

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.