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

Bridgewater Associates LP decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 58.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,507 shares of the company’s stock after selling 531,007 shares during the period. Bridgewater Associates LP’s holdings in General Mills were worth $27,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arkadios Wealth Advisors lifted its stake in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after buying an additional 43,086 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in General Mills by 92.5% during the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after acquiring an additional 23,411 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares during the period. Finally, DNB Asset Management AS increased its stake in shares of General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after purchasing an additional 11,334 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GIS shares. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Bank of America lifted their price target 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. Stifel Nicolaus raised their target price on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, TD Cowen boosted their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Activity at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Friday, September 20th. The stock was 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 approximately $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. In the last 90 days, insiders have sold 67,555 shares of company stock worth $4,721,336. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.4 %

GIS stock opened at $66.23 on Thursday. 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, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business has a 50 day simple moving average of $69.12 and a two-hundred day simple moving average of $68.54. The company has a market capitalization of $36.77 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.41 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly 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. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. Research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.60 dividend. 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%.

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.