Kennedy Investment Group Sells 457 Shares of General Mills, Inc. (NYSE:GIS)

Kennedy Investment Group cut its position in shares of General Mills, Inc. (NYSE:GIS) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,933 shares of the company’s stock after selling 457 shares during the period. General Mills accounts for 1.2% of Kennedy Investment Group’s portfolio, making the stock its 20th largest holding. Kennedy Investment Group’s holdings in General Mills were worth $2,580,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in General Mills by 20.2% during the first quarter. International Assets Investment Management LLC now owns 9,452 shares of the company’s stock worth $663,000 after purchasing an additional 1,590 shares during the period. Northwest Investment Counselors LLC acquired a new position in General Mills in the 1st quarter valued at about $48,000. AdvisorNet Financial Inc raised its holdings in General Mills by 79.8% in the 1st quarter. AdvisorNet Financial Inc now owns 7,315 shares of the company’s stock valued at $512,000 after acquiring an additional 3,247 shares during the period. Range Financial Group LLC lifted its position in General Mills by 7.2% during the first quarter. Range Financial Group LLC now owns 6,116 shares of the company’s stock worth $428,000 after acquiring an additional 409 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of General Mills during the first quarter worth approximately $1,448,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

General Mills stock traded down $1.08 during midday trading on Monday, reaching $68.85. The company’s stock had a trading volume of 1,590,764 shares, compared to its average volume of 3,901,877. General Mills, Inc. has a 52 week low of $61.47 and a 52 week 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 cap of $38.43 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The business has a 50-day moving average price of $72.36 and a 200-day moving average price of $69.21.

General Mills (NYSE:GIS) last issued 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Stifel Nicolaus boosted their target price on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Evercore ISI dropped their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. Finally, Bank of America lifted their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.00.

Insider Activity

In related 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 value of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. 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 is available through the SEC website. In other news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on 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 owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,055 shares of company stock valued at $1,467,311. 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.