General Mills, Inc. (NYSE:GIS) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,250 shares of the company’s stock after selling 200 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in General Mills were worth $1,348,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its stake in shares of General Mills by 4.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 11,845 shares of the company’s stock worth $829,000 after acquiring an additional 467 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of General Mills by 3.7% during the 1st quarter. HBK Sorce Advisory LLC now owns 8,509 shares of the company’s stock worth $595,000 after purchasing an additional 307 shares during the period. Te Ahumairangi Investment Management Ltd lifted its stake in shares of General Mills by 34.0% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 74,993 shares of the company’s stock worth $5,247,000 after purchasing an additional 19,037 shares during the period. Intech Investment Management LLC increased its holdings in shares of General Mills by 67.9% during the 1st quarter. Intech Investment Management LLC now owns 400,811 shares of the company’s stock worth $28,045,000 after buying an additional 162,058 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, 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 transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, TD Cowen upped their price target on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. One research 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 currently has an average rating of “Hold” and an average target price of $73.00.

General Mills Trading Down 0.8 %

NYSE:GIS opened at $64.71 on Friday. The stock’s 50 day moving average price is $71.10 and its 200 day moving average price is $68.93. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a market capitalization of $35.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 3.35 and a beta of 0.11. 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 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.71%. General Mills’s dividend payout ratio is 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.