Murphy Pohlad Asset Management LLC Has $2.26 Million Holdings in General Mills, Inc. (NYSE:GIS)

Murphy Pohlad Asset Management LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,635 shares of the company’s stock after selling 3,314 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in General Mills were worth $2,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Values First Advisors Inc. bought a new position in General Mills during the third quarter worth $27,000. RFP Financial Group LLC boosted its position in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the period. First Foundation Advisors boosted its position in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Beacon Capital Management LLC boosted its position in 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 during the period. Finally, TruNorth Capital Management LLC bought a new position in General Mills during the second quarter worth $38,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 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 filing with the SEC, which can be accessed through 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 sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Stifel Nicolaus boosted their target price 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. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.00.

General Mills Stock Performance

NYSE:GIS opened at $68.26 on Friday. The company has a market capitalization of $37.90 billion, a PE ratio of 16.25, a P/E/G ratio of 3.51 and a beta of 0.10. The company has a 50 day simple moving average of $72.09 and a two-hundred day simple moving average of $69.18. 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 fifty-two week low of $61.47 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.85% and a net margin of 12.14%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. Research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

About General Mills

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.