Global Retirement Partners LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

Global Retirement Partners LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 18.2% during the third quarter, Holdings Channel.com reports. The fund owned 7,850 shares of the company’s stock after selling 1,752 shares during the quarter. Global Retirement Partners LLC’s holdings in General Mills were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GIS. North Star Investment Management Corp. boosted its holdings in General Mills by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after acquiring an additional 145 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after purchasing an additional 151 shares during the last quarter. Park Place Capital Corp increased its position in General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after acquiring an additional 156 shares during the last quarter. Secure Asset Management LLC increased its position in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. Finally, LCM Capital Management Inc increased its position in General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. 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. In other news, 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 value of $717,640.33. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 20,055 shares of company stock valued at $1,467,311 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

GIS has been the subject of a number of recent analyst reports. Evercore ISI dropped their price objective on 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. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Finally, Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Stock Performance

GIS opened at $69.93 on Monday. The stock has a 50-day moving average of $72.36 and a 200-day moving average of $69.21. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a market cap of $39.03 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. 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 (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.43%. General Mills’s dividend payout ratio (DPR) is 55.68%.

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.