Frank Rimerman Advisors LLC Lowers Stake in General Mills, Inc. (NYSE:GIS)

Frank Rimerman Advisors LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 85.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,638 shares of the company’s stock after selling 32,259 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in General Mills were worth $416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its position in General Mills by 15.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 913,326 shares of the company’s stock valued at $67,854,000 after purchasing an additional 119,955 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of General Mills by 1.4% during the third quarter. GHP Investment Advisors Inc. now owns 72,056 shares of the company’s stock valued at $5,321,000 after buying an additional 993 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of General Mills by 6.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,216 shares of the company’s stock valued at $533,000 after buying an additional 427 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of General Mills by 2.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 207,645 shares of the company’s stock worth $15,335,000 after acquiring an additional 4,160 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in General Mills by 41.1% during the third quarter. Forsta AP Fonden now owns 153,500 shares of the company’s stock valued at $11,336,000 after acquiring an additional 44,700 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GIS shares. Stifel Nicolaus lifted their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Citigroup upped their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company raised their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Finally, The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills Stock Performance

NYSE GIS opened at $68.28 on Tuesday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market capitalization of $38.11 billion, a P/E ratio of 15.84, a PEG ratio of 3.55 and a beta of 0.10. The stock has a 50-day simple moving average of $72.28 and a two-hundred day simple moving average of $69.18.

General Mills (NYSE:GIS) last announced its quarterly 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the company posted $1.09 earnings per share. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were 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 of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.24% of the stock is owned by company insiders.

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.