Truvestments Capital LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 78.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,494 shares of the company’s stock after selling 16,510 shares during the period. Truvestments Capital LLC’s holdings in General Mills were worth $276,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its stake in General Mills by 94.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the company’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Rosenberg Matthew Hamilton purchased a new position in shares of General Mills during the 2nd quarter valued at about $36,000. TCTC Holdings LLC purchased a new position in shares of General Mills during the second quarter worth approximately $37,000. Simon Quick Advisors LLC boosted its stake in shares of General Mills by 327.7% in the 3rd quarter. Simon Quick Advisors LLC now owns 603 shares of the company’s stock valued at $37,000 after purchasing an additional 462 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in General Mills by 80.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 621 shares of the company’s stock worth $38,000 after purchasing an additional 277 shares during the period. Institutional investors own 72.40% of the company’s stock.
In related news, insider Jonathon Nudi sold 10,786 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 64,122 shares of the company’s stock, valued at $3,952,480.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean N. Walker sold 9,062 shares of General Mills stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $61.59, for a total transaction of $558,128.58. Following the completion of the sale, the insider now owns 66,793 shares in the company, valued at $4,113,780.87. The disclosure for this sale can be found here. Insiders have sold a total of 26,159 shares of company stock worth $1,606,498 in the last three months. 0.51% of the stock is owned by corporate insiders.
Shares of NYSE GIS opened at $60.82 on Tuesday. The stock has a market cap of $37.18 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.61. General Mills, Inc. has a 1 year low of $46.59 and a 1 year high of $66.14. The firm has a fifty day moving average price of $60.88 and a 200-day moving average price of $61.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.49.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.13. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a net margin of 12.78% and a return on equity of 28.46%. General Mills’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, research analysts expect that General Mills, Inc. will post 3.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 8th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, January 7th. General Mills’s dividend payout ratio (DPR) is presently 56.51%.
A number of brokerages have recently issued reports on GIS. Piper Sandler raised their price objective on General Mills from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research report on Thursday, September 24th. Credit Suisse Group upgraded shares of General Mills from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $65.00 to $67.00 in a research report on Friday, September 25th. Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Monday, November 2nd. Finally, Citigroup upped their target price on shares of General Mills from $64.00 to $70.00 and gave the stock a “neutral” rating in a research 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 assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.39.
General Mills Profile
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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