KBC Group NV Sells 21,940 Shares of General Mills, Inc. (NYSE:GIS)

KBC Group NV cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 400,009 shares of the company’s stock after selling 21,940 shares during the period. KBC Group NV owned 0.07% of General Mills worth $29,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GIS. Values First Advisors Inc. bought a new position in General Mills in the third quarter valued at approximately $27,000. First Foundation Advisors boosted its position in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after purchasing an additional 180 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of General Mills during the third quarter worth $44,000. Finally, TruNorth Capital Management LLC bought a new stake in General Mills in the second quarter valued at about $38,000. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Citigroup raised their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Cowen lifted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Performance

GIS opened at $64.71 on Friday. The company has a market capitalization of $35.92 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 3.35 and a beta of 0.11. The business’s 50-day moving average price is $71.10 and its two-hundred day moving average price is $68.93. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

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

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

General Mills Company 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.