General Mills, Inc. (NYSE:GIS) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its position in General Mills, Inc. (NYSE:GIS) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 206,582 shares of the company’s stock after selling 2,245 shares during the quarter. Cetera Investment Advisers’ holdings in General Mills were worth $13,068,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. North Star Investment Management Corp. lifted its holdings in General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after acquiring an additional 145 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in General Mills by 4.9% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the last quarter. Park Place Capital Corp boosted its holdings in General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after buying an additional 156 shares in the last quarter. Secure Asset Management LLC grew its position in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the last quarter. Finally, LCM Capital Management Inc grew its position in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Up 0.8 %

Shares of General Mills stock opened at $73.61 on Friday. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. 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 stock has a 50 day moving average price of $71.74 and a two-hundred day moving average price of $69.08. The stock has a market capitalization of $41.09 billion, a P/E ratio of 17.08, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its earnings results 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 business 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 revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. Equities analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. General Mills’s dividend payout ratio is presently 55.68%.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The stock was 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 of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value 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 approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction 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 directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GIS. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Evercore ISI reduced their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. TD Cowen lifted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.73.

General Mills 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.