Coastwise Capital Group LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

Coastwise Capital Group LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 3,330 shares of the company’s stock after selling 192 shares during the quarter. Coastwise Capital Group LLC’s holdings in General Mills were worth $246,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc boosted its position 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares during the last quarter. American Century Companies Inc. increased its stake in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Finally, abrdn plc lifted its stake in General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GIS shares. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group began coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Finally, Barclays lifted their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.67.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction 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 transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was 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 firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Up 0.0 %

GIS opened at $66.26 on Monday. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a 50 day moving average price of $68.78 and a 200 day moving average price of $68.47. 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 company has a market cap of $36.78 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 3.44 and a beta of 0.11.

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

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 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.