Mengis Capital Management Inc. Trims Holdings in General Mills, Inc. (NYSE:GIS)

Mengis Capital Management Inc. reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,168 shares of the company’s stock after selling 499 shares during the period. Mengis Capital Management Inc.’s holdings in General Mills were worth $825,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Mesirow Financial Investment Management Inc. boosted its position in shares of General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in General Mills by 4.9% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the last quarter. Secure Asset Management LLC boosted its holdings in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after acquiring an additional 157 shares in the last quarter. LCM Capital Management Inc grew its stake in shares of General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after acquiring an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of General Mills by 1.1% during the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of General Mills 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 transaction, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was 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 in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Performance

GIS opened at $64.26 on Wednesday. The company’s 50 day moving average is $71.27 and its 200 day moving average is $68.96. 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 $35.67 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 3.29 and a beta of 0.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GIS. Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. The Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Barclays lifted their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus upped their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.00.

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.