Weaver Capital Management LLC Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Weaver Capital Management LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 15.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,745 shares of the company’s stock after selling 2,791 shares during the period. Weaver Capital Management LLC’s holdings in General Mills were worth $1,089,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Tempus Wealth Planning LLC grew its stake in shares of General Mills by 8.3% during the third quarter. Tempus Wealth Planning LLC now owns 3,720 shares of the company’s stock worth $275,000 after acquiring an additional 285 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in General Mills in the third quarter valued at approximately $746,000. Eastern Bank boosted its position in General Mills by 434.2% in the third quarter. Eastern Bank now owns 24,717 shares of the company’s stock valued at $1,825,000 after buying an additional 20,090 shares during the last quarter. Calton & Associates Inc. purchased a new stake in General Mills in the third quarter valued at approximately $240,000. Finally, Foundations Investment Advisors LLC boosted its position in General Mills by 27.9% in the third quarter. Foundations Investment Advisors LLC now owns 15,121 shares of the company’s stock valued at $1,117,000 after buying an additional 3,303 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was 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 directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. 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 20,055 shares of company stock worth $1,467,311 in the last three months. 0.24% of the stock is owned by corporate insiders.

General Mills Trading Up 0.5 %

Shares of GIS stock opened at $69.09 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a 50 day simple moving average of $72.37 and a 200-day simple moving average of $69.20. The company has a market cap of $38.56 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results 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 return on equity of 26.85% and a net margin of 12.14%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. On average, equities research analysts expect that General Mills, Inc. will post 4.51 EPS 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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is currently 55.68%.

Analyst Ratings Changes

A number of brokerages recently commented on GIS. Barclays upped 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. Evercore ISI dropped their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. JPMorgan Chase & Co. boosted 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. Finally, Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.00.

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.