Guggenheim Capital LLC Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Guggenheim Capital LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 349,117 shares of the company’s stock after selling 48,427 shares during the period. Guggenheim Capital LLC owned about 0.06% of General Mills worth $21,534,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Tiemann Investment Advisors LLC boosted its stake in General Mills by 2.2% in the second quarter. Tiemann Investment Advisors LLC now owns 7,609 shares of the company’s stock valued at $469,000 after acquiring an additional 167 shares during the period. Putnam FL Investment Management Co. boosted its holdings in shares of General Mills by 1.9% during the third quarter. Putnam FL Investment Management Co. now owns 8,754 shares of the company’s stock valued at $540,000 after acquiring an additional 167 shares during the period. LVM Capital Management Ltd. MI grew its position in shares of General Mills by 1.6% during the third quarter. LVM Capital Management Ltd. MI now owns 10,987 shares of the company’s stock worth $678,000 after acquiring an additional 170 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of General Mills by 3.2% in the 3rd quarter. Essex Financial Services Inc. now owns 5,465 shares of the company’s stock worth $337,000 after acquiring an additional 170 shares during the period. Finally, Summit X LLC lifted its position in General Mills by 2.2% in the 3rd quarter. Summit X LLC now owns 7,931 shares of the company’s stock valued at $419,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 72.40% of the company’s stock.

NYSE GIS opened at $60.82 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.49. The firm has a market capitalization of $37.18 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.61. The company has a 50 day simple moving average of $60.88 and a 200-day simple moving average of $61.74. General Mills, Inc. has a 52-week low of $46.59 and a 52-week high of $66.14.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. General Mills had a net margin of 12.78% and a return on equity of 28.46%. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 3.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 8th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, January 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.35%. General Mills’s payout ratio is 56.51%.

Several equities research analysts have commented on GIS shares. Piper Sandler raised their price target on shares of General Mills from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. CSFB upgraded General Mills to an “outperform” rating and set a $67.00 target price on the stock in a research report on Friday, September 25th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research report on Thursday, September 24th. Zacks Investment Research lowered shares of General Mills from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research note on Monday, November 2nd. Finally, Citigroup upped their price target on shares of General Mills from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.39.

In related news, insider Jonathon Nudi sold 10,786 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $61.64, for a total transaction of $664,849.04. Following the transaction, the insider now owns 64,122 shares of the company’s stock, valued at $3,952,480.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn P. Ogrady sold 6,310 shares of General Mills stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $60.77, for a total transaction of $383,458.70. Following the completion of the sale, the insider now owns 129,257 shares of the company’s stock, valued at $7,854,947.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,159 shares of company stock valued at $1,606,498. Insiders own 0.51% of the company’s stock.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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