Sky Investment Group LLC Cuts Stake in General Mills, Inc. (NYSE:GIS)

by · The Markets Daily

Sky Investment Group LLC lessened its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,568 shares of the company’s stock after selling 1,051 shares during the period. Sky Investment Group LLC’s holdings in General Mills were worth $4,547,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Capital Advisors Ltd. LLC increased 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 worth $29,000 after buying an additional 336 shares during the period. RFP Financial Group LLC increased its position in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. GoalVest Advisory LLC raised its holdings in shares of General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after purchasing an additional 180 shares in the last quarter. First Foundation Advisors lifted its position in shares of General Mills by 400.0% during 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. Finally, Riverview Trust Co purchased a new stake in shares of General Mills during the 1st quarter worth $35,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE GIS traded up $0.03 during trading on Tuesday, reaching $68.80. The company’s stock had a trading volume of 600,511 shares, compared to its average volume of 3,895,061. The business’s fifty day moving average price is $72.37 and its 200-day moving average price is $69.20. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market cap of $38.40 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS – Get Free Report) last issued its quarterly 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Buying and Selling

In other news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The shares were 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 of the company’s stock, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of the firm’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 completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were 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 in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,055 shares of company stock valued at $1,467,311 over the last three months. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Mizuho lowered their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, Barclays boosted their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Get Our Latest Stock Report on General Mills

General Mills Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS – Free Report).