SG Americas Securities LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 16.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,568 shares of the company’s stock after selling 23,129 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $6,425,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in General Mills in the 2nd quarter valued at $25,000. Ellevest Inc. bought a new stake in shares of General Mills during the 2nd quarter worth $28,000. Capital International Ltd. CA bought a new stake in shares of General Mills during the 2nd quarter worth $30,000. Employers Holdings Inc. bought a new stake in shares of General Mills during the 2nd quarter worth $32,000. Finally, NuWave Investment Management LLC lifted its holdings in shares of General Mills by 377.4% during the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after acquiring an additional 502 shares during the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Jonathon Nudi sold 18,951 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the transaction, the insider now owns 81,656 shares in the company, valued at $4,451,885.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the transaction, the insider now owns 35,487 shares in the company, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
Shares of GIS stock traded up $0.52 during mid-day trading on Friday, reaching $52.50. The stock had a trading volume of 2,629,920 shares, compared to its average volume of 4,115,356. The stock’s 50-day moving average price is $52.93 and its two-hundred day moving average price is $52.93. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $56.40. The firm has a market capitalization of $31.18 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a current ratio of 0.62, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that General Mills, Inc. will post 3.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Wednesday, October 9th. General Mills’s payout ratio is 60.87%.
A number of analysts have recently issued reports on GIS shares. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 22nd. Credit Suisse Group reaffirmed a “hold” rating and set a $56.00 price objective on shares of General Mills in a report on Thursday, September 12th. Barclays reiterated a “hold” rating and issued a $55.00 target price on shares of General Mills in a research report on Friday, September 20th. Royal Bank of Canada began coverage on shares of General Mills in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 target price on the stock. Finally, ValuEngine cut shares of General Mills from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.82.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
Further Reading: Mutual Funds
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