Swiss National Bank Sells 15,000 Shares of General Mills, Inc. (NYSE:GIS)

Swiss National Bank trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,656,600 shares of the company’s stock after selling 15,000 shares during the quarter. Swiss National Bank owned approximately 0.30% of General Mills worth $122,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Edgestream Partners L.P. raised its holdings in shares of General Mills by 803.7% during the 1st quarter. Edgestream Partners L.P. now owns 28,349 shares of the company’s stock worth $1,984,000 after acquiring an additional 25,212 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of 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 holdings in shares of General Mills by 45.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 5,461 shares of the company’s stock worth $382,000 after acquiring an additional 1,715 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of General Mills by 121.1% during the 1st quarter. National Bank of Canada FI now owns 436,692 shares of the company’s stock worth $30,868,000 after acquiring an additional 239,191 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in shares of General Mills by 44.8% during the 1st quarter. Pitcairn Co. now owns 10,824 shares of the company’s stock worth $757,000 after acquiring an additional 3,347 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.5 %

Shares of GIS opened at $62.88 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The stock has a market capitalization of $34.91 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 3.25 and a beta of 0.11. The stock has a 50 day moving average price of $70.42 and a 200 day moving average price of $68.78.

General Mills (NYSE:GIS) last issued 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 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 earned $1.09 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GIS shares. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. increased their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company decreased their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.67.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by corporate 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.