Stansberry Asset Management LLC Cuts Holdings in General Mills, Inc. (NYSE:GIS)

Stansberry Asset Management LLC trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 37.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,992 shares of the company’s stock after selling 8,881 shares during the quarter. Stansberry Asset Management LLC’s holdings in General Mills were worth $1,107,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the period. Legal & General Group Plc boosted its stake in General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 148,235 shares in the last quarter. American Century Companies Inc. boosted its stake in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after acquiring an additional 263,188 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s 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 transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock worth $4,721,336 in the last ninety days. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GIS. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Bank of America raised their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.67.

General Mills Stock Down 1.4 %

GIS stock opened at $65.34 on Thursday. The stock has a market capitalization of $36.27 billion, a P/E ratio of 15.56, a P/E/G ratio of 3.44 and a beta of 0.10. The firm has a 50-day simple moving average of $68.32 and a 200-day simple moving average of $68.38. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 52 week low of $61.47 and a 52 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 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 analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.67%. General Mills’s payout ratio is 57.14%.

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.