Brighton Jones LLC Sells 795 Shares of General Mills, Inc. (NYSE:GIS)

Brighton Jones LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,446 shares of the company’s stock after selling 795 shares during the period. Brighton Jones LLC’s holdings in General Mills were worth $402,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arkadios Wealth Advisors increased its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after acquiring an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after buying an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after buying an additional 96,712 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after buying an additional 23,411 shares during the period. Finally, DNB Asset Management AS increased its position in shares of General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after acquiring an additional 11,334 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

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. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The shares were 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 owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.24% of the stock is currently owned by company insiders.

General Mills Stock Performance

Shares of NYSE GIS opened at $68.30 on Friday. 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 capitalization of $38.12 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The stock has a 50 day moving average of $72.33 and a 200-day moving average of $69.19.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business 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%. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is 55.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GIS shares. Evercore ISI cut their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. TD Cowen increased their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler boosted 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Finally, Citigroup boosted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.00.

General Mills Company 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.