Atria Investments Inc Trims Position in General Mills, Inc. (NYSE:GIS)

Atria Investments Inc lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,272 shares of the company’s stock after selling 2,062 shares during the quarter. Atria Investments Inc’s holdings in General Mills were worth $2,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Deseret Mutual Benefit Administrators boosted its stake in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares in the last quarter. Secure Asset Management LLC lifted its holdings in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. LCM Capital Management Inc boosted its position in General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of General Mills by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after acquiring an additional 165 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of General Mills by 0.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Citigroup boosted their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Bank of America increased their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Finally, Wells Fargo & Company raised their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.00.

General Mills Trading Up 1.5 %

Shares of NYSE:GIS opened at $65.24 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The company has a market cap of $36.22 billion, a P/E ratio of 15.53, a PEG ratio of 3.30 and a beta of 0.11. The stock’s fifty day moving average price is $71.27 and its 200-day moving average price is $68.96.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. Insiders own 0.26% of the company’s stock.

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.