Bridgewater Associates LP Sells 531,007 Shares of General Mills, Inc. (NYSE:GIS)

Bridgewater Associates LP trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 58.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,507 shares of the company’s stock after selling 531,007 shares during the quarter. Bridgewater Associates LP owned approximately 0.07% of General Mills worth $27,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in shares of General Mills during the 3rd quarter valued at $27,000. 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 acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp grew its stake in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of General Mills in the second quarter worth about $38,000. Finally, Fairscale Capital LLC acquired a new stake in shares of General Mills during the second quarter worth about $42,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GIS. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Barclays upped their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. TD Cowen raised their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $72.67.

General Mills Stock Up 0.4 %

General Mills stock opened at $66.23 on Thursday. The company has a market capitalization of $36.77 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.41 and a beta of 0.11. The firm has a 50 day moving average price of $69.12 and a 200-day moving average price of $68.54. 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, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Transactions at General Mills

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated 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 owns 36,184 shares of the company’s stock, valued at $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 90 days, insiders sold 67,555 shares of company stock valued at $4,721,336. 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.