Summit Trail Advisors LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Summit Trail Advisors LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 26.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,311 shares of the company’s stock after selling 1,903 shares during the quarter. Summit Trail Advisors LLC’s holdings in General Mills were worth $392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in shares of General Mills during the 3rd quarter valued at about $27,000. First Foundation Advisors grew its position in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp raised its stake in shares of General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of General Mills during the second quarter worth $38,000. Finally, Beacon Capital Management LLC lifted its position in shares of General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $66.02 on Wednesday. The stock has a market capitalization of $36.65 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 3.38 and a beta of 0.11. The business’s fifty day moving average price is $69.29 and its 200 day moving average price is $68.55. 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 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Equities research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 11.57 % 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 valued at $4,721,336. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GIS shares. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. 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. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company cut their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.67.

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.