General Mills, Inc. (NYSE:GIS) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its holdings in General Mills, Inc. (NYSE:GIS) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,819 shares of the company’s stock after selling 2,683 shares during the quarter. Patten & Patten Inc. TN’s holdings in General Mills were worth $725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in shares of General Mills in the third quarter worth about $51,000. Jensen Investment Management Inc. raised its position in shares of General Mills by 6.0% in the third quarter. Jensen Investment Management Inc. now owns 130,715 shares of the company’s stock worth $9,653,000 after acquiring an additional 7,420 shares during the period. Crossmark Global Holdings Inc. boosted its position in General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in General Mills by 99.9% in the third quarter. Tyler Stone Wealth Management now owns 14,717 shares of the company’s stock valued at $1,087,000 after purchasing an additional 7,356 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its holdings in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $64.10 on Tuesday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.37 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. The business’s 50 day moving average price is $71.60 and its 200 day moving average price is $69.06.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.74%. General Mills’s payout ratio is 57.14%.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Wells Fargo & Company raised their price objective on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Citigroup raised their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on 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 directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by corporate 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.