Savoir Faire Capital Management L.P. Has $3.91 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Savoir Faire Capital Management L.P. lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 55.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,953 shares of the company’s stock after selling 65,780 shares during the quarter. General Mills comprises 2.0% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 25th biggest position. Savoir Faire Capital Management L.P.’s holdings in General Mills were worth $3,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New England Asset Management Inc. raised its stake in General Mills by 3.0% during the third quarter. New England Asset Management Inc. now owns 36,020 shares of the company’s stock worth $2,660,000 after acquiring an additional 1,045 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of General Mills by 10.6% during the third quarter. Drive Wealth Management LLC now owns 4,231 shares of the company’s stock worth $312,000 after purchasing an additional 407 shares during the last quarter. J. W. Coons Advisors LLC bought a new stake in shares of General Mills during the third quarter worth about $213,000. Thrivent Financial for Lutherans boosted its holdings in General Mills by 6.9% in the third quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock valued at $3,325,000 after acquiring an additional 2,907 shares during the last quarter. Finally, Claro Advisors LLC boosted its holdings in General Mills by 44.8% in the third quarter. Claro Advisors LLC now owns 5,901 shares of the company’s stock valued at $436,000 after acquiring an additional 1,825 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.5 %

GIS stock opened at $62.88 on Tuesday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business has a fifty day moving average price of $70.42 and a 200-day moving average price of $68.78. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a market capitalization of $34.91 billion, a P/E ratio of 14.97, a P/E/G ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during 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 revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.82%. General Mills’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Wells Fargo & Company dropped their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Bank of America boosted their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.67.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 11.57 % 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. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 over the last ninety days. Company insiders own 0.26% 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.