Wellington Management Group LLP Decreases Stock Position in General Mills, Inc. (NYSE:GIS)

Wellington Management Group LLP cut its position in General Mills, Inc. (NYSE:GIS) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,360 shares of the company’s stock after selling 3,380 shares during the period. Wellington Management Group LLP’s holdings in General Mills were worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in General Mills in the 3rd quarter valued at about $27,000. First Foundation Advisors raised its position in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Planning Capital Management Corp lifted its stake in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in General Mills in the 3rd quarter worth approximately $44,000. Finally, Rise Advisors LLC grew its stake in General Mills by 46.7% in the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by insiders.

General Mills Stock Up 0.5 %

GIS opened at $65.92 on Wednesday. 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 business’s fifty day simple moving average is $66.93 and its 200 day simple moving average is $68.20. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The stock has a market cap of $36.60 billion, a PE ratio of 15.70, a P/E/G ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, research analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GIS shares. TD Cowen raised their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company reduced their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Citigroup increased their price target on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, Stifel Nicolaus upped their target price 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.00.

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.