JNBA Financial Advisors Lowers Holdings in General Mills, Inc. (NYSE:GIS)

JNBA Financial Advisors lessened its position in General Mills, Inc. (NYSE:GIS) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,683 shares of the company’s stock after selling 412 shares during the period. JNBA Financial Advisors’ holdings in General Mills were worth $937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in General Mills by 107.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 34,473 shares of the company’s stock worth $2,546,000 after purchasing an additional 17,833 shares during the period. Radnor Capital Management LLC purchased a new stake in shares of General Mills during the 3rd quarter worth $323,000. Avidian Wealth Enterprises LLC acquired a new stake in shares of General Mills in the third quarter valued at about $316,000. Marks Group Wealth Management Inc purchased a new stake in General Mills during the third quarter worth about $217,000. Finally, Crestwood Advisors Group LLC grew its position in General Mills by 5.4% during the third quarter. Crestwood Advisors Group LLC now owns 5,038 shares of the company’s stock worth $372,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Citigroup increased their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Bank of America lifted their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. 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 company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and an average price target of $73.00.

General Mills Trading Down 1.9 %

General Mills stock traded down $1.27 during midday trading on Wednesday, reaching $67.04. The stock had a trading volume of 1,387,431 shares, compared to its average volume of 3,866,128. The stock’s 50-day simple moving average is $71.98 and its 200 day simple moving average is $69.18. The stock has a market capitalization of $37.22 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.51 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. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred 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 directly owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 in the last quarter. 0.26% of the stock is owned by corporate insiders.

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.