Tokio Marine Asset Management Co. Ltd. Sells 1,126 Shares of General Mills, Inc. (NYSE:GIS)

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,663 shares of the company’s stock after selling 1,126 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in General Mills were worth $1,895,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Arkadios Wealth Advisors boosted its holdings in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in General Mills by 22.1% in the 3rd 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 last quarter. iA Global Asset Management Inc. boosted its stake in General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after buying an additional 23,411 shares in the last quarter. DNB Asset Management AS grew its position in General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after acquiring an additional 11,334 shares during the last quarter. Finally, Ellsworth Advisors LLC raised its stake in shares of General Mills by 105.8% during the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after acquiring an additional 74,456 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of GIS opened at $64.71 on Friday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a 50-day simple moving average of $71.10 and a two-hundred day simple moving average of $68.93. 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 firm has a market capitalization of $35.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 3.35 and a beta of 0.11.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.71%. General Mills’s payout ratio is 57.14%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GIS shares. Piper Sandler upped their price objective 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. Citigroup raised their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Bank of America boosted their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.00.

Insider Buying and Selling

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 in the last 90 days. Insiders own 0.26% of the company’s stock.

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.