General Mills, Inc. (NYSE:GIS) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. cut its stake in General Mills, Inc. (NYSE:GISFree Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,692 shares of the company’s stock after selling 201 shares during the period. Mengis Capital Management Inc.’s holdings in General Mills were worth $748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FWL Investment Management LLC purchased a new position in shares of General Mills in the 4th quarter worth $25,000. Intrepid Capital Management Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at about $28,000. Almanack Investment Partners LLC. purchased a new stake in shares of General Mills during the 3rd quarter worth about $28,000. Authentikos Wealth Advisory LLC acquired a new stake in General Mills during the 3rd quarter worth approximately $31,000. Finally, RFP Financial Group LLC grew its stake in General Mills by 573.8% during the second quarter. RFP Financial Group LLC now owns 411 shares of the company’s stock worth $32,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 75.31% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at $20,523,044.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

General Mills Stock Performance

Shares of NYSE:GIS traded up $0.74 during trading hours on Monday, hitting $63.08. The stock had a trading volume of 3,398,831 shares, compared to its average volume of 4,104,922. The stock’s fifty day simple moving average is $64.73 and its 200 day simple moving average is $65.87. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The firm has a market capitalization of $35.82 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.18 and a beta of 0.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.36 and a current ratio of 0.64.

General Mills (NYSE:GISGet Free Report) last announced its quarterly earnings results on Wednesday, December 20th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.35 billion. General Mills had a net margin of 12.06% and a return on equity of 25.44%. General Mills’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s payout ratio is 57.42%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GIS. Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, December 21st. Citigroup began coverage on shares of General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target for the company. Royal Bank of Canada decreased their price target on shares of General Mills from $74.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, December 21st. Bank of America decreased their price objective on shares of General Mills from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, December 21st. Finally, Mizuho decreased their price objective on shares of General Mills from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.67.

View Our Latest Analysis on GIS

General Mills Company Profile

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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