Independent Advisor Alliance Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Independent Advisor Alliance lowered its stake in General Mills, Inc. (NYSE:GIS) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,797 shares of the company’s stock after selling 599 shares during the quarter. Independent Advisor Alliance’s holdings in General Mills were worth $2,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares during the last quarter. American Century Companies Inc. grew its stake in shares of General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after buying an additional 263,188 shares during the last quarter. Finally, abrdn plc grew its stake in shares of General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after buying an additional 92,931 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $65.53 on Tuesday. 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 stock has a 50-day simple moving average of $69.46 and a two-hundred day simple moving average of $68.59. The firm has a market capitalization of $36.38 billion, a PE ratio of 15.60, a P/E/G ratio of 3.38 and a beta of 0.11. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company 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 revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is 57.14%.

Insider Buying and Selling

In other General Mills 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 transaction 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. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the 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 sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Stifel Nicolaus upped their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $72.67.

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.