Patten Group Inc. Cuts Position in General Mills, Inc. (NYSE:GIS)

Patten Group Inc. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,368 shares of the company’s stock after selling 597 shares during the period. Patten Group Inc.’s holdings in General Mills were worth $1,135,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC boosted its holdings in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. Fortis Group Advisors LLC boosted its holdings in General Mills by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after purchasing an additional 229 shares in the last quarter. RFP Financial Group LLC boosted its holdings in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its holdings in General Mills by 769.2% in the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.6 %

Shares of NYSE:GIS opened at $72.07 on Thursday. The stock’s 50-day moving average price is $71.95 and its two-hundred day moving average price is $69.13. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.01 and a 12-month high of $75.90. The firm has a market cap of $40.23 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. On average, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued 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 3.33%. General Mills’s payout ratio is currently 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 transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s 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 in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale 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 that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. TD Cowen upped their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.73.

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.