Rockefeller Capital Management L.P. Lowers Holdings in General Mills, Inc. (NYSE:GIS)

Rockefeller Capital Management L.P. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 128,544 shares of the company’s stock after selling 4,286 shares during the period. Rockefeller Capital Management L.P.’s holdings in General Mills were worth $9,491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GIS. Values First Advisors Inc. purchased a new stake in General Mills in the 3rd quarter worth approximately $27,000. First Foundation Advisors boosted 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 in the last quarter. Planning Capital Management Corp grew its position in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Catalyst Capital Advisors LLC purchased a new position in General Mills in the third quarter valued at $44,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of General Mills in the second quarter worth about $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 1.1 %

GIS stock opened at $66.27 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average of $68.49 and a two-hundred day moving average of $68.40. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a market cap of $36.79 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 3.48 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 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 return on equity of 26.85% and a net margin of 12.14%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GIS shares. Stifel Nicolaus lifted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Citigroup raised their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Bank of America lifted their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $72.67.

Insider Buying and Selling at General Mills

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value 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. The trade was a 35.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock worth $4,721,336 in the last ninety days. 0.26% of the stock is owned by 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.