Optimum Investment Advisors Sells 650 Shares of General Mills, Inc. (NYSE:GIS)

Optimum Investment Advisors reduced its holdings in General Mills, Inc. (NYSE:GIS) by 55.7% during the 3rd quarter, Holdings Channel reports. The fund owned 518 shares of the company’s stock after selling 650 shares during the quarter. Optimum Investment Advisors’ holdings in General Mills were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rise Advisors LLC boosted its stake in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares in the last quarter. RFP Financial Group LLC grew its holdings in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Perkins Coie Trust Co increased its position in General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC raised 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 worth $32,000 after acquiring an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 1.0 %

Shares of NYSE:GIS opened at $69.94 on Friday. The company has a 50 day moving average price of $72.36 and a two-hundred day moving average price of $69.22. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market capitalization of $39.04 billion, a PE ratio of 16.23, a PEG ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. Analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GIS shares. Wells Fargo & Company raised their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. The Goldman Sachs Group assumed coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Evercore ISI lowered their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Activity at General Mills

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is owned by company insiders.

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.