General Mills, Inc. $GIS Shares Sold by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 39.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,694 shares of the company’s stock after selling 9,410 shares during the period. Figure 8 Investment Strategies LLC’s holdings in General Mills were worth $761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kera Capital Partners Inc. purchased a new position in shares of General Mills during the 2nd quarter worth $222,000. Victory Capital Management Inc. increased its stake in General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock valued at $31,245,000 after purchasing an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in General Mills by 7.8% during the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after buying an additional 32,628 shares during the period. Rock Point Advisors LLC acquired a new stake in General Mills in the 1st quarter worth about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in General Mills by 126.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock valued at $46,285,000 after buying an additional 431,693 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIS shares. HSBC cut their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Bernstein Bank cut their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a research note on Saturday, September 27th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an “equal weight” rating in a report on Thursday, June 26th. Four equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $55.82.

Insider Transactions at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction that occurred 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 sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

General Mills Stock Up 0.1%

Shares of General Mills stock opened at $50.38 on Friday. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $73.78. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average price of $49.73 and a 200 day moving average price of $53.05.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio is currently 46.12%.

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.