Sheets Smith Wealth Management Sells 778 Shares of General Mills, Inc. (NYSE:GIS)

Sheets Smith Wealth Management reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 1.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 39,552 shares of the company’s stock after selling 778 shares during the quarter. Sheets Smith Wealth Management’s holdings in General Mills were worth $2,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. Norden Group LLC bought a new stake in shares of General Mills in the 1st quarter worth about $308,000. Envestnet Portfolio Solutions Inc. increased its stake in General Mills by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company’s stock worth $1,223,000 after acquiring an additional 5,594 shares during the last quarter. Empowered Funds LLC raised its position in General Mills by 31.8% during the first quarter. Empowered Funds LLC now owns 37,319 shares of the company’s stock valued at $2,611,000 after purchasing an additional 9,000 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of General Mills by 12.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 44,141 shares of the company’s stock valued at $3,089,000 after purchasing an additional 4,845 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in shares of General Mills by 37.0% in the 1st quarter. Atomi Financial Group Inc. now owns 4,221 shares of the company’s stock worth $295,000 after purchasing an additional 1,139 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Up 0.9 %

NYSE:GIS opened at $65.52 on Friday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. 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 $36.37 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 3.39 and a beta of 0.11. The company has a 50-day moving average of $71.60 and a 200 day moving average of $69.09.

General Mills (NYSE:GIS) last released its quarterly 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 return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.66%. General Mills’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

GIS has been the topic of several recent research reports. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Barclays raised their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. 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 report on Thursday, September 19th. Piper Sandler raised their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company boosted their target price on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 in the last ninety days. 0.26% of the stock is owned by insiders.

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.