Metis Global Partners LLC Sells 3,008 Shares of General Mills, Inc. $GIS

Metis Global Partners LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,352 shares of the company’s stock after selling 3,008 shares during the quarter. Metis Global Partners LLC’s holdings in General Mills were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GIS. Garde Capital Inc. lifted its position in shares of General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after purchasing an additional 264 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in General Mills in the 2nd quarter worth about $32,000. GKV Capital Management Co. Inc. purchased a new stake in General Mills in the 1st quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of General Mills during the 1st quarter worth approximately $37,000. Finally, Pingora Partners LLC lifted its position in shares of General Mills by 416.7% during the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock worth $37,000 after buying an additional 500 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE GIS opened at $46.89 on Monday. The firm has a market cap of $25.01 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average is $49.02 and its 200-day moving average is $51.12. General Mills, Inc. has a 12-month low of $45.80 and a 12-month high of $67.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.61 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.2%. General Mills’s dividend payout ratio is currently 46.12%.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GIS has been the subject of several recent analyst reports. Bernstein Bank reduced their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. HSBC decreased their target price on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Mizuho cut their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Finally, Jefferies Financial Group reduced their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.82.

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.