General Mills, Inc. (NYSE:GIS) Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,319 shares of the company’s stock after selling 162 shares during the period. Trueblood Wealth Management LLC’s holdings in General Mills were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Values First Advisors Inc. purchased a new stake in General Mills in the third quarter valued at $27,000. Capital Advisors Ltd. LLC grew its holdings in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the period. RFP Financial Group LLC raised its position in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. First Foundation Advisors lifted its holdings in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the period. Finally, Park Place Capital Corp boosted its position in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock valued at $4,657,676 over the last 90 days. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIS shares. The Goldman Sachs Group assumed coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. 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 report on Friday, September 20th. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Stifel Nicolaus increased their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.00.

General Mills Trading Down 0.5 %

Shares of GIS opened at $68.30 on Friday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The stock has a market cap of $38.12 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The firm’s fifty day moving average is $72.33 and its two-hundred day moving average is $69.19. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

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

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. General Mills’s payout ratio is currently 55.68%.

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.