General Mills, Inc. $GIS Shares Sold by Sachetta LLC

Sachetta LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 34.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713 shares of the company’s stock after selling 380 shares during the period. Sachetta LLC’s holdings in General Mills were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Ameriprise Financial Inc. boosted its holdings in General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after purchasing an additional 741,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in General Mills by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock valued at $428,213,000 after purchasing an additional 315,375 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock valued at $417,674,000 after purchasing an additional 634,393 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company’s stock valued at $382,888,000 after purchasing an additional 414,768 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

General Mills Stock Up 1.5%

General Mills stock opened at $50.92 on Wednesday. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $72.82. The firm has a 50 day moving average price of $49.76 and a 200 day moving average price of $52.90. The company has a market capitalization of $27.16 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s payout ratio is 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of analyst reports. Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Bernstein Bank decreased their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Royal Bank Of Canada raised shares of General Mills from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Bank of America decreased their price target on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.