Sequoia Financial Advisors LLC Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Sequoia Financial Advisors LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,261 shares of the company’s stock after selling 505 shares during the period. Sequoia Financial Advisors LLC’s holdings in General Mills were worth $2,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its stake in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. RFP Financial Group LLC boosted its stake 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 purchasing an additional 173 shares during the period. GoalVest Advisory LLC boosted its stake in shares of General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after purchasing an additional 180 shares during the period. First Foundation Advisors boosted its stake in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of General Mills in the first quarter valued at $35,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.7 %

General Mills stock opened at $68.58 on Thursday. The company has a 50-day simple moving average of $72.33 and a 200-day simple moving average of $69.19. The firm has a market capitalization of $38.28 billion, a P/E ratio of 15.91, a P/E/G 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, Inc. has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during 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%. General Mills’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.50%. General Mills’s dividend payout ratio is presently 55.68%.

Insider Activity at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction dated 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 approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock worth $1,467,311 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GIS shares. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Piper Sandler upped their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has a consensus 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.