Adell Harriman & Carpenter Inc. Sells 985 Shares of General Mills, Inc. (NYSE:GIS)

Adell Harriman & Carpenter Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,116 shares of the company’s stock after selling 985 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in General Mills were worth $599,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GIS. Values First Advisors Inc. purchased a new stake in shares of General Mills in the 3rd quarter worth $27,000. Capital Advisors Ltd. LLC boosted its stake in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC increased its holdings in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. First Foundation Advisors lifted its holdings in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the period. Finally, Park Place Capital Corp raised its position in shares of General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’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 transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock worth $4,657,676 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GIS has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Wells Fargo & Company raised their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Mizuho cut their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. One equities research 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $73.00.

General Mills Stock Down 0.5 %

General Mills stock opened at $67.95 on Wednesday. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The firm has a market cap of $37.93 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 3.55 and a beta of 0.10. The business’s 50-day moving average price is $72.24 and its 200 day moving average price is $69.19. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted 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 firm 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 business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. General Mills’s dividend payout ratio is presently 55.68%.

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.