Aviso Wealth Management Has $2.36 Million Position in General Mills, Inc. (NYSE:GIS)

Aviso Wealth Management reduced its stake in General Mills, Inc. (NYSE:GIS) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,954 shares of the company’s stock after selling 235 shares during the period. General Mills comprises approximately 1.3% of Aviso Wealth Management’s investment portfolio, making the stock its 12th largest position. Aviso Wealth Management’s holdings in General Mills were worth $2,360,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GIS. Edgestream Partners L.P. raised its holdings in General Mills by 803.7% during the 1st quarter. Edgestream Partners L.P. now owns 28,349 shares of the company’s stock worth $1,984,000 after purchasing an additional 25,212 shares during the last quarter. Catalytic Wealth RIA LLC bought a new position in General Mills during the 1st quarter worth approximately $222,000. Bahl & Gaynor Inc. raised its holdings in General Mills by 10.3% during the 1st quarter. Bahl & Gaynor Inc. now owns 24,881 shares of the company’s stock worth $1,741,000 after purchasing an additional 2,321 shares during the last quarter. Bessemer Group Inc. raised its holdings in General Mills by 65.0% during the 1st quarter. Bessemer Group Inc. now owns 111,741 shares of the company’s stock worth $7,819,000 after purchasing an additional 44,038 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in General Mills by 45.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 5,461 shares of the company’s stock worth $382,000 after purchasing an additional 1,715 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Trading Down 2.3 %

Shares of General Mills stock opened at $63.21 on Monday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The stock’s 50-day simple moving average is $70.67 and its 200 day simple moving average is $68.84. The stock has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.25 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GIS. TD Cowen raised their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler lifted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,555 shares of company stock worth $4,657,676. Company 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.