General Mills, Inc. (NYSE:GIS) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors cut its position in General Mills, Inc. (NYSE:GIS) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,330 shares of the company’s stock after selling 400 shares during the period. Tower Bridge Advisors’ holdings in General Mills were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in General Mills during the 3rd quarter worth $27,000. First Foundation Advisors grew its stake in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Planning Capital Management Corp grew its stake in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in General Mills during the 2nd quarter worth $38,000. Finally, Beacon Capital Management LLC grew its stake in General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after purchasing an additional 180 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on GIS. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. 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. Barclays upped their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday. One investment 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.67.

General Mills Stock Performance

Shares of GIS stock opened at $63.21 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $70.67 and a two-hundred day moving average of $68.84. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a market cap of $35.09 billion, a P/E ratio of 15.05, a PEG ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company 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 business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. As a group, analysts anticipate 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 was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.80%. General Mills’s payout ratio is 57.14%.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

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.