ST Germain D J Co. Inc. Lowers Stake in General Mills, Inc. (NYSE:GIS)

ST Germain D J Co. Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,505 shares of the company’s stock after selling 1,141 shares during the period. ST Germain D J Co. Inc.’s holdings in General Mills were worth $19,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GIS. Nomura Holdings Inc. purchased a new position in General Mills during the 4th quarter worth $764,000. Mather Group LLC. purchased a new position in shares of General Mills in the 1st quarter valued at approximately $141,000. Rise Advisors LLC boosted its stake in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Park Avenue Securities LLC increased its stake in General Mills by 5.1% during the 1st quarter. Park Avenue Securities LLC now owns 36,355 shares of the company’s stock valued at $2,544,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of General Mills by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 48,176 shares of the company’s stock worth $3,370,000 after buying an additional 165 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI cut their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler raised their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Finally, Mizuho decreased their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills Price Performance

Shares of GIS traded down $0.75 during mid-day trading on Friday, hitting $69.93. 3,867,882 shares of the company were exchanged, compared to its average volume of 3,913,318. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a 50 day moving average of $72.36 and a 200-day moving average of $69.22. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.09 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.43%. General Mills’s payout ratio is presently 55.68%.

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 shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,055 shares of company stock valued at $1,467,311. Corporate insiders own 0.24% of the company’s stock.

About General Mills

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.