PFG Investments LLC Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

PFG Investments LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,795 shares of the company’s stock after selling 807 shares during the quarter. PFG Investments LLC’s holdings in General Mills were worth $1,314,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wealthcare Advisory Partners LLC bought a new position in shares of General Mills during the first quarter valued at approximately $386,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of General Mills by 2.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 185,581 shares of the company’s stock worth $12,985,000 after buying an additional 4,480 shares during the last quarter. Founders Financial Securities LLC bought a new position in General Mills during the 1st quarter valued at approximately $367,000. Cornerstone Wealth Group LLC purchased a new position in General Mills during the first quarter valued at $258,000. Finally, Diversified Trust Co purchased a new position in General Mills during the first quarter valued at $1,356,000. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred 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 directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock valued at $4,657,676 in the last 90 days. Company insiders own 0.26% of the company’s stock.

General Mills Stock Down 0.5 %

GIS stock opened at $68.30 on Friday. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.55 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The business’s 50-day moving average is $72.31 and its two-hundred day moving average is $69.17. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIS shares. JPMorgan Chase & Co. raised their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Citigroup raised their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Stifel Nicolaus raised their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.00.

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.