KBC Group NV Sells 21,940 Shares of General Mills, Inc. (NYSE:GIS)

KBC Group NV reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 400,009 shares of the company’s stock after selling 21,940 shares during the quarter. KBC Group NV’s holdings in General Mills were worth $29,540,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GIS. Arkadios Wealth Advisors boosted its position in General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares during the period. Janney Montgomery Scott LLC lifted its stake 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 worth $17,565,000 after buying an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after buying an additional 23,411 shares during the period. DNB Asset Management AS grew its stake in General Mills by 10.5% in the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after buying an additional 11,334 shares during the last quarter. Finally, Ellsworth Advisors LLC raised its holdings in General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after acquiring an additional 74,456 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GIS. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays upped their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Finally, Citigroup upped their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling at General Mills

In related news, 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 transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 over the last 90 days. Insiders own 0.26% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $64.71 on Friday. The firm has a 50 day moving average of $71.10 and a 200-day moving average of $68.93. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $35.92 billion, a PE ratio of 15.41, a PEG ratio of 3.35 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts predict 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. Investors of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, October 10th. 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.