General Mills, Inc. (NYSE:GIS) Shares Sold by Old Port Advisors

Old Port Advisors reduced its stake in General Mills, Inc. (NYSE:GIS) by 13.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,318 shares of the company’s stock after selling 513 shares during the quarter. Old Port Advisors’ holdings in General Mills were worth $212,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GIS. Janney Montgomery Scott LLC lifted its stake in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the period. JPMorgan Chase & Co. raised its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after acquiring an additional 104,436 shares during the period. Ellsworth Advisors LLC grew its stake in General Mills by 105.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after purchasing an additional 74,456 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of General Mills by 6.4% in the second quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company’s stock valued at $73,206,000 after purchasing an additional 69,902 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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 owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,624 shares of company stock worth $3,897,326. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on GIS shares. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. TD Cowen dropped their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Piper Sandler increased their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Barclays decreased their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.56.

General Mills Trading Down 0.4 %

Shares of GIS stock opened at $63.54 on Friday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a 50 day simple moving average of $65.36 and a 200-day simple moving average of $67.92.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is presently 52.17%.

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.