Truvestments Capital LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 88.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549 shares of the company’s stock after selling 4,106 shares during the quarter. Truvestments Capital LLC’s holdings in General Mills were worth $41,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new position in General Mills during the third quarter worth $27,000. First Foundation Advisors raised its stake in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp raised its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in General Mills during the third quarter worth $44,000. Finally, TruNorth Capital Management LLC acquired a new position in General Mills during the second quarter worth $38,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on GIS. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Barclays raised their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Citigroup raised their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company lowered their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Finally, The Goldman Sachs Group began coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.67.
General Mills Price Performance
Shares of GIS opened at $66.23 on Thursday. 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 1 year low of $61.47 and a 1 year high of $75.90. The stock has a market cap of $36.77 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.11. The stock’s 50-day moving average price is $69.12 and its two-hundred day moving average price is $68.54.
General Mills (NYSE:GIS – Get Free Report) last issued its earnings results 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.
General Mills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.
Insider Activity
In other news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated 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 owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The shares were 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 $1,465,007.58. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock worth $4,721,336 in the last 90 days. Corporate 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.
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