QRG Capital Management Inc. Sells 6,903 Shares of General Mills, Inc. (NYSE:GIS)

QRG Capital Management Inc. trimmed its position in General Mills, Inc. (NYSE:GIS) by 1.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 350,037 shares of the company’s stock after selling 6,903 shares during the period. QRG Capital Management Inc. owned about 0.06% of General Mills worth $25,850,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GIS. Deseret Mutual Benefit Administrators grew its position in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after acquiring an additional 151 shares during the period. Secure Asset Management LLC grew its position in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. LCM Capital Management Inc grew its position in shares of General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares during the period. Financial Counselors Inc. grew its position in shares of General Mills by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 56,652 shares of the company’s stock valued at $3,964,000 after acquiring an additional 165 shares during the period. Finally, Csenge Advisory Group lifted its stake in shares of General Mills by 1.3% during the 1st quarter. Csenge Advisory Group now owns 13,007 shares of the company’s stock valued at $910,000 after buying an additional 165 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of recent research reports. Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Stifel Nicolaus upped their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Citigroup increased their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. 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. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $73.00.

General Mills Stock Performance

Shares of GIS stock traded up $0.17 during trading hours on Monday, reaching $68.41. The company had a trading volume of 183,194 shares, compared to its average volume of 3,870,137. The business has a fifty day moving average price of $72.09 and a 200-day moving average price of $69.20. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The firm has a market cap of $37.98 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. 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 (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock valued at $4,657,676 over the last 90 days. 0.26% of the stock is currently owned by corporate 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.