West Family Investments Inc. Sells 359 Shares of General Mills, Inc. (NYSE:GIS)

West Family Investments Inc. trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 3.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,899 shares of the company’s stock after selling 359 shares during the period. West Family Investments Inc.’s holdings in General Mills were worth $657,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its position in shares of General Mills by 803.7% in the 1st quarter. Edgestream Partners L.P. now owns 28,349 shares of the company’s stock worth $1,984,000 after purchasing an additional 25,212 shares in the last quarter. Bessemer Group Inc. lifted its stake in General Mills by 65.0% during the 1st quarter. Bessemer Group Inc. now owns 111,741 shares of the company’s stock worth $7,819,000 after acquiring an additional 44,038 shares in the last quarter. Lake Street Advisors Group LLC raised its position in General Mills by 45.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,461 shares of the company’s stock valued at $382,000 after purchasing an additional 1,715 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of General Mills by 121.1% in the 1st quarter. National Bank of Canada FI now owns 436,692 shares of the company’s stock valued at $30,868,000 after acquiring an additional 239,191 shares during the last quarter. Finally, Pitcairn Co. increased its holdings in shares of General Mills by 44.8% in the 1st quarter. Pitcairn Co. now owns 10,824 shares of the company’s stock valued at $757,000 after acquiring an additional 3,347 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE:GIS opened at $62.82 on Tuesday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $70.42 and a 200 day simple moving average of $68.78. The stock has a market capitalization of $34.88 billion, a PE ratio of 14.97, a P/E/G ratio of 3.25 and a beta of 0.11.

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

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.82%. General Mills’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GIS. Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $72.67.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s 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 completion of the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is owned by company insiders.

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.