QRG Capital Management Inc. Sells 6,903 Shares of General Mills, Inc. (NYSE:GIS)

QRG Capital Management Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 350,037 shares of the company’s stock after selling 6,903 shares during the quarter. QRG Capital Management Inc.’s holdings in General Mills were worth $25,850,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the last quarter. Capital Research Global Investors increased its position in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’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 value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,555 shares of company stock worth $4,657,676. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GIS shares. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. The Goldman Sachs Group assumed coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Bank of America increased their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Price Performance

GIS stock traded up $0.17 during midday trading on Monday, reaching $68.41. The stock had a trading volume of 183,194 shares, compared to its average volume of 3,870,137. The company’s fifty day simple moving average is $72.09 and its 200 day simple moving average is $69.20. 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 company has a market cap of $37.98 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.51%. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

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.