Atria Investments LLC lowered its holdings in General Mills, Inc. (NYSE:GIS – Get Rating) by 1.3% in the first quarter, Holdings Channel.com reports. The firm owned 33,307 shares of the company’s stock after selling 455 shares during the period. Atria Investments LLC’s holdings in General Mills were worth $2,256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in GIS. Marquette Asset Management LLC purchased a new stake in General Mills during the first quarter valued at about $26,000. Joseph Group Capital Management purchased a new stake in General Mills during the fourth quarter valued at about $44,000. HWG Holdings LP purchased a new stake in General Mills during the fourth quarter valued at about $30,000. Ellis Investment Partners LLC grew its position in General Mills by 81.7% during the fourth quarter. Ellis Investment Partners LLC now owns 447 shares of the company’s stock valued at $30,000 after acquiring an additional 201 shares during the period. Finally, Riverview Trust Co grew its position in General Mills by 204.7% during the first quarter. Riverview Trust Co now owns 457 shares of the company’s stock valued at $31,000 after acquiring an additional 307 shares during the period. Hedge funds and other institutional investors own 74.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GIS. Royal Bank of Canada boosted their price target on General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, July 1st. Piper Sandler boosted their price objective on General Mills from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, June 30th. Morgan Stanley boosted their price objective on General Mills from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Friday, July 1st. Credit Suisse Group set a $74.00 price objective on General Mills in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on General Mills from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.73.
Insider Buying and Selling at General Mills
In other General Mills news, CAO Mark A. Pallot sold 2,255 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the sale, the chief accounting officer now owns 17,087 shares in the company, valued at $1,275,715.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Sean N. Walker sold 29,489 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the completion of the transaction, the insider now directly owns 89,989 shares of the company’s stock, valued at $6,749,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 2,255 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $74.66, for a total value of $168,358.30. Following the transaction, the chief accounting officer now directly owns 17,087 shares of the company’s stock, valued at $1,275,715.42. The disclosure for this sale can be found here. Insiders have sold 42,737 shares of company stock worth $3,217,260 over the last quarter. 0.53% of the stock is owned by corporate insiders.
General Mills Trading Up 0.7 %
NYSE:GIS opened at $73.63 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63. General Mills, Inc. has a one year low of $56.67 and a one year high of $76.94. The business’s 50-day simple moving average is $70.95 and its 200 day simple moving average is $69.27. The stock has a market cap of $43.97 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.37.
General Mills (NYSE:GIS – Get Rating) last released its quarterly earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.01 by $0.11. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 4.01 earnings per share for the current fiscal year.
General Mills Announces Dividend
The company also recently disclosed a dividend, which was paid on Thursday, July 7th. Shareholders of record on Friday, July 8th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s payout ratio is currently 48.87%.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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