Victory Capital Management Inc. Reduces Position in General Mills, Inc. (NYSE:GIS)

Victory Capital Management Inc. trimmed its stake in General Mills, Inc. (NYSE:GIS) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,290 shares of the company’s stock after selling 54,032 shares during the period. Victory Capital Management Inc. owned 0.09% of General Mills worth $36,503,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GIS. Vanguard Group Inc. raised its stake in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the period. Capital Research Global Investors increased its holdings in General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares in the last quarter. Legal & General Group Plc raised its stake in General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares during the period. Dimensional Fund Advisors LP lifted its holdings in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the period. 75.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on GIS shares. Bank of America raised their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company decreased their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus upped their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research 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 presently has an average rating of “Hold” and an average price target of $72.67.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock valued at $4,657,676 over the last three months. 0.26% of the stock is owned by company insiders.

General Mills Stock Performance

Shares of NYSE:GIS opened at $63.21 on Friday. The firm has a fifty day simple moving average of $70.67 and a two-hundred day simple moving average of $68.85. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a PEG ratio of 3.35 and a beta of 0.11.

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

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 yield of 3.80%. General Mills’s dividend payout ratio is presently 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.