General Mills, Inc. (NYSE:GIS) Shares Sold by Atom Investors LP

Atom Investors LP reduced its stake in General Mills, Inc. (NYSE:GIS) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,878 shares of the company’s stock after selling 2,146 shares during the quarter. Atom Investors LP’s holdings in General Mills were worth $1,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GIS. Mather Group LLC. lifted its position in General Mills by 32.5% in the second quarter. Mather Group LLC. now owns 2,875 shares of the company’s stock valued at $201,000 after purchasing an additional 706 shares during the period. Park Avenue Securities LLC grew its holdings in shares of General Mills by 8.2% during the 2nd quarter. Park Avenue Securities LLC now owns 39,334 shares of the company’s stock worth $2,488,000 after purchasing an additional 2,979 shares during the period. Valeo Financial Advisors LLC increased its position in shares of General Mills by 4.1% in the second quarter. Valeo Financial Advisors LLC now owns 28,464 shares of the company’s stock worth $1,801,000 after acquiring an additional 1,114 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of General Mills by 5.3% during the second quarter. Simplicity Wealth LLC now owns 35,306 shares of the company’s stock worth $2,233,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Clarius Group LLC lifted its holdings in General Mills by 24.6% in the 2nd quarter. Clarius Group LLC now owns 7,132 shares of the company’s stock worth $451,000 after buying an additional 1,406 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GIS shares. Wells Fargo & Company dropped their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Citigroup upped their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus boosted their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $72.67.

General Mills Trading Down 1.1 %

Shares of NYSE:GIS opened at $66.27 on Wednesday. The business’s fifty day simple moving average is $68.49 and its 200-day simple moving average is $68.40. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a market capitalization of $36.79 billion, a PE ratio of 15.78, a P/E/G ratio of 3.48 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 yield of 3.62%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by company 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.