General Mills, Inc. (NYSE:GIS) Shares Sold by JNBA Financial Advisors

JNBA Financial Advisors reduced its stake in General Mills, Inc. (NYSE:GIS) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,683 shares of the company’s stock after selling 412 shares during the period. JNBA Financial Advisors’ holdings in General Mills were worth $937,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in General Mills in the third quarter valued at $27,000. RFP Financial Group LLC lifted its holdings in shares of General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. First Foundation Advisors grew its stake in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in General Mills during the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC lifted its position in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Trading Down 1.9 %

NYSE:GIS traded down $1.27 during trading hours on Wednesday, hitting $67.04. The stock had a trading volume of 1,387,431 shares, compared to its average volume of 3,866,128. 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, Inc. has a one year low of $61.47 and a one year high of $75.90. The business’s 50 day moving average is $71.98 and its 200-day moving average is $69.18. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.51 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the 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 sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock worth $4,657,676 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GIS. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. TD Cowen upped their price objective on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.00.

General Mills 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.