Wellington Management Group LLP Has $2.61 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Wellington Management Group LLP cut its holdings in General Mills, Inc. (NYSE:GIS) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,360 shares of the company’s stock after selling 3,380 shares during the quarter. Wellington Management Group LLP’s holdings in General Mills were worth $2,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. grew its holdings in shares of General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after purchasing an additional 148 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of General Mills by 4.9% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after buying an additional 151 shares in the last quarter. Secure Asset Management LLC lifted its stake in shares of General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. LCM Capital Management Inc boosted its holdings in shares of 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. Finally, Ballentine Partners LLC grew its position in 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 last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.5 %

NYSE GIS opened at $65.92 on Wednesday. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The business has a 50 day moving average price of $66.93 and a 200-day moving average price of $68.20. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a market cap of $36.60 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. As a group, equities analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.64%. General Mills’s payout ratio is 57.14%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. Wells Fargo & Company dropped their price target on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Finally, Stifel Nicolaus lifted their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.00.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. Insiders own 0.26% of the company’s stock.

General Mills Company 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.