Mengis Capital Management Inc. Sells 499 Shares of General Mills, Inc. (NYSE:GIS)

Mengis Capital Management Inc. reduced its stake in General Mills, Inc. (NYSE:GIS) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,168 shares of the company’s stock after selling 499 shares during the period. Mengis Capital Management Inc.’s holdings in General Mills were worth $825,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Values First Advisors Inc. purchased a new position in shares of General Mills during the third quarter valued at about $27,000. RFP Financial Group LLC grew its holdings in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. First Foundation Advisors increased its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of General Mills during the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC boosted its position in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Bank of America lifted their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.00.

General Mills Stock Up 0.2 %

Shares of GIS opened at $64.26 on Wednesday. The firm has a fifty day moving average price of $71.27 and a 200-day moving average price of $68.96. 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 market capitalization of $35.67 billion, a P/E ratio of 15.30, a P/E/G ratio of 3.29 and a beta of 0.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last released 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. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Equities research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.73%. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insiders Place Their Bets

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 in the last ninety days. 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.