Prio Wealth Limited Partnership Sells 193 Shares of General Mills, Inc. (NYSE:GIS)

Prio Wealth Limited Partnership trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 7,570 shares of the company’s stock after selling 193 shares during the quarter. Prio Wealth Limited Partnership’s holdings in General Mills were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in General Mills by 20.2% in the first quarter. International Assets Investment Management LLC now owns 9,452 shares of the company’s stock worth $663,000 after purchasing an additional 1,590 shares during the period. Northwest Investment Counselors LLC bought a new position in General Mills in the first quarter worth $48,000. AdvisorNet Financial Inc lifted its position in General Mills by 79.8% in the first quarter. AdvisorNet Financial Inc now owns 7,315 shares of the company’s stock worth $512,000 after purchasing an additional 3,247 shares during the period. Global Assets Advisory LLC bought a new position in General Mills in the first quarter worth $1,448,000. Finally, Riverview Trust Co bought a new position in General Mills in the first quarter worth $35,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of NYSE:GIS opened at $68.78 on Tuesday. The stock has a market capitalization of $38.39 billion, a P/E ratio of 15.96, a P/E/G ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average price of $72.37 and a two-hundred day moving average price of $69.20.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during 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 company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. Equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.49%. General Mills’s dividend payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of analyst reports. Citigroup lifted their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Mizuho cut their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Insiders Place Their Bets

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s 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 of the company’s stock, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,055 shares of company stock valued at $1,467,311. 0.24% of the stock is currently owned by insiders.

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.