Unigestion Holding SA Decreases Stake in General Mills, Inc. (NYSE:GIS)

Unigestion Holding SA lessened its holdings in General Mills, Inc. (NYSE:GIS) by 56.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 245,354 shares of the company’s stock after selling 320,331 shares during the period. Unigestion Holding SA’s holdings in General Mills were worth $18,117,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in General Mills in the third quarter worth $27,000. First Foundation Advisors boosted its holdings 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 buying an additional 400 shares during 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 stake in General Mills during the third quarter worth about $44,000. Finally, TruNorth Capital Management LLC bought a new stake in General Mills in the second quarter worth about $38,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 0.4 %

GIS opened at $66.15 on Wednesday. The firm has a market capitalization of $36.72 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 3.39 and a beta of 0.10. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a fifty day moving average price of $67.80 and a 200-day moving average price of $68.26. 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 posted 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 analysts’ expectations of $4.80 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.63%. General Mills’s payout ratio is presently 57.14%.

Insiders Place Their Bets

In other news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock valued at $4,721,336 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GIS. TD Cowen raised their price target 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. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Barclays boosted 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and an average target price of $72.67.

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.