SevenBridge Financial Group LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

SevenBridge Financial Group LLC lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm 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 reporting period.

Several other institutional investors have also bought and sold shares of GIS. Legal & General Group Plc raised its holdings in General Mills by 6.1% during 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 lifted its holdings in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares during the period. American Century Companies Inc. lifted its stake in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after buying an additional 263,188 shares during the last quarter. Finally, abrdn plc boosted its stake in General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after acquiring an additional 92,931 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS opened at $65.00 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market capitalization of $36.09 billion, a PE ratio of 15.48, a P/E/G ratio of 3.33 and a beta of 0.11. The business’s 50 day moving average price is $69.64 and its 200-day moving average price is $68.63.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.69%. General Mills’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Barclays lifted their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. TD Cowen lifted their price objective on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.67.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was 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 of the company’s stock, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. 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.