Forsta AP Fonden Lowers Holdings in General Mills, Inc. (NYSE:GIS)

Forsta AP Fonden decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,800 shares of the company’s stock after selling 42,000 shares during the quarter. Forsta AP Fonden’s holdings in General Mills were worth $11,713,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in General Mills during the third quarter valued at $27,000. Herold Advisors Inc. purchased a new position in General Mills during the third quarter valued at $29,000. Tompkins Financial Corp bought a new stake in shares of General Mills in the 3rd quarter worth $33,000. Ancora Advisors LLC increased its holdings in shares of General Mills by 43.8% in the 2nd quarter. Ancora Advisors LLC now owns 611 shares of the company’s stock worth $37,000 after purchasing an additional 186 shares in the last quarter. Finally, Guidance Point Advisors LLC bought a new stake in shares of General Mills in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

NYSE:GIS opened at $68.90 on Friday. The firm has a market capitalization of $41.56 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.54. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.62. The business has a fifty day moving average price of $65.22 and a 200-day moving average price of $61.75. General Mills, Inc. has a one year low of $54.31 and a one year high of $69.68.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Tuesday, December 21st. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.06). The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.86 billion. General Mills had a return on equity of 23.58% and a net margin of 12.02%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, equities research analysts expect that General Mills, Inc. will post 3.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, December 10th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.04 dividend on an annualized basis and a yield of 2.96%. General Mills’s dividend payout ratio is presently 56.20%.

In other General Mills news, insider Shawn P. Ogrady sold 47,306 shares of the stock in a transaction dated Wednesday, December 22nd. The shares were sold at an average price of $64.96, for a total transaction of $3,072,997.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bethany C. Quam sold 14,455 shares of the stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $69.02, for a total transaction of $997,684.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,192 shares of company stock valued at $5,437,448. Corporate insiders own 0.53% of the company’s stock.

GIS has been the subject of a number of research analyst reports. Credit Suisse Group lifted their target price on General Mills from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, December 22nd. Royal Bank of Canada lifted their target price on General Mills from $65.00 to $66.00 and gave the stock a “sector perform” rating in a report on Thursday, September 23rd. Morgan Stanley lifted their target price on General Mills from $51.00 to $56.00 in a report on Tuesday. Jefferies Financial Group assumed coverage on General Mills in a report on Wednesday, December 22nd. They issued a “hold” rating and a $65.00 target price for the company. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $65.00 price objective on shares of General Mills in a report on Thursday, December 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.80.

About General Mills

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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

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