Prossimo Advisors LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Prossimo Advisors LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 16.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,292 shares of the company’s stock after selling 1,410 shares during the quarter. Prossimo Advisors LLC’s holdings in General Mills were worth $539,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GIS. Norden Group LLC acquired a new position in General Mills during the 1st quarter worth $308,000. Diversify Advisory Services LLC acquired a new position in shares of General Mills during the first quarter worth about $625,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of General Mills by 13.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,591 shares of the company’s stock worth $12,426,000 after buying an additional 21,683 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in General Mills by 1.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,689 shares of the company’s stock valued at $1,867,000 after acquiring an additional 261 shares in the last quarter. Finally, BNP Paribas purchased a new position in General Mills in the first quarter worth approximately $659,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock valued at $4,657,676 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.3 %

NYSE GIS opened at $68.24 on Friday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The firm has a market cap of $37.88 billion, a PE ratio of 16.25, a P/E/G ratio of 3.50 and a beta of 0.11. The firm’s fifty day moving average is $72.09 and its two-hundred day moving average is $69.19. 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 posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. Analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. General Mills’s dividend payout ratio (DPR) is 57.14%.

Analysts Set New Price Targets

A number of brokerages have commented on GIS. The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. TD Cowen raised their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.00.

General Mills Company Profile

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.