Aviso Wealth Management Cuts Stake in General Mills, Inc. (NYSE:GIS)

Aviso Wealth Management lowered its position in General Mills, Inc. (NYSE:GIS) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,954 shares of the company’s stock after selling 235 shares during the quarter. General Mills makes up approximately 1.3% of Aviso Wealth Management’s portfolio, making the stock its 12th biggest position. Aviso Wealth Management’s holdings in General Mills were worth $2,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Arkadios Wealth Advisors boosted its stake in shares of General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of General Mills by 92.5% during the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after purchasing an additional 23,411 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after purchasing an additional 104,436 shares during the period. Finally, DNB Asset Management AS boosted its stake in shares of 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 purchasing an additional 11,334 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. TD Cowen upped their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Bank of America upped their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $72.67.

Insiders Place Their Bets

In other news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction dated 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. Insiders own 0.26% of the company’s stock.

General Mills Trading Down 2.3 %

General Mills stock opened at $63.21 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The stock has a market capitalization of $35.09 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11. The business’s fifty day moving average is $70.67 and its 200 day moving average is $68.84.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.80%. General Mills’s payout ratio is 57.14%.

General Mills 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.