SG Americas Securities LLC decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,568 shares of the company’s stock after selling 23,129 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $6,425,000 at the end of the most recent reporting period.
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A number of other institutional investors also recently modified their holdings of GIS. BlackRock Inc. increased its holdings in General Mills by 15.8% during the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after buying an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in General Mills by 24,698.3% during the second quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock valued at $191,063,000 after buying an additional 3,623,246 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in General Mills during the second quarter valued at approximately $106,946,000. Renaissance Technologies LLC increased its holdings in General Mills by 44.6% during the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock valued at $279,085,000 after buying an additional 1,639,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock valued at $2,477,631,000 after buying an additional 643,774 shares during the last quarter. Institutional investors own 68.77% of the company’s stock.
Shares of NYSE GIS traded up $0.52 during midday trading on Friday, reaching $52.50. The stock had a trading volume of 2,629,920 shares, compared to its average volume of 4,115,356. The stock has a 50-day moving average of $52.93 and a 200-day moving average of $52.93. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.37 and a current ratio of 0.62. The company has a market capitalization of $31.18 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. As a group, analysts forecast that General Mills, Inc. will post 3.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.73%. General Mills’s dividend payout ratio is 60.87%.
In related news, insider Kofi A. Bruce sold 15,582 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the transaction, the insider now owns 35,487 shares in the company, valued at $1,928,008.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathon Nudi sold 18,951 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the transaction, the insider now owns 81,656 shares of the company’s stock, valued at approximately $4,451,885.12. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
GIS has been the subject of a number of research reports. ValuEngine cut shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Credit Suisse Group reaffirmed a “hold” rating and set a $56.00 target price on shares of General Mills in a report on Thursday, September 12th. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 22nd. Finally, Morgan Stanley upped their target price on shares of General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Mills currently has a consensus rating of “Hold” and a consensus price target of $53.82.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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