KCM Investment Advisors LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

KCM Investment Advisors LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,705 shares of the company’s stock after selling 497 shares during the quarter. KCM Investment Advisors LLC’s holdings in General Mills were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after acquiring an additional 43,086 shares during the period. iA Global Asset Management Inc. grew its position in shares of General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after acquiring an additional 23,411 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the period. Finally, DNB Asset Management AS grew its position in shares of General Mills by 10.5% during the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after acquiring an additional 11,334 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 2.3 %

GIS opened at $63.21 on Friday. The firm has a 50-day simple moving average of $70.67 and a two-hundred day simple moving average of $68.85. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a market capitalization of $35.09 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 3.35 and a beta of 0.11. 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 (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating 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 revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. Analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio is 57.14%.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GIS. Bank of America boosted their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Piper Sandler boosted their price objective 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 price objective 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. TD Cowen boosted their price objective on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company dropped their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. One 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 MarketBeat, General Mills presently has an average rating of “Hold” and an average price target 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.