Glenmede Trust Co. NA Sells 3,129 Shares of General Mills, Inc. (NYSE:GIS)

Glenmede Trust Co. NA lowered its stake in General Mills, Inc. (NYSE:GIS) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 318,324 shares of the company’s stock after selling 3,129 shares during the quarter. Glenmede Trust Co. NA owned about 0.06% of General Mills worth $23,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in shares of General Mills in the third quarter valued at about $27,000. First Foundation Advisors lifted its position in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Planning Capital Management Corp increased its stake in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in General Mills during the 2nd quarter worth about $38,000. Finally, Fairscale Capital LLC bought a new position in shares of General Mills in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.4 %

Shares of General Mills stock opened at $66.23 on Thursday. The firm has a market capitalization of $36.77 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $69.12 and its 200 day moving average is $68.54. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast 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 will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stifel Nicolaus upped their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Citigroup raised their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler upped 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 price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. One 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.67.

Insider Transactions at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,555 shares of company stock worth $4,721,336. Insiders own 0.26% of the company’s stock.

General Mills Company 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.