West Family Investments Inc. Sells 359 Shares of General Mills, Inc. (NYSE:GIS)

West Family Investments Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,899 shares of the company’s stock after selling 359 shares during the quarter. West Family Investments Inc.’s holdings in General Mills were worth $657,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of General Mills in the 3rd quarter worth $5,234,000. Prospera Financial Services Inc boosted its position in General Mills by 5.3% during the third quarter. Prospera Financial Services Inc now owns 8,414 shares of the company’s stock worth $622,000 after purchasing an additional 427 shares in the last quarter. Caprock Group LLC boosted its stake in shares of General Mills by 7.3% in the third quarter. Caprock Group LLC now owns 29,000 shares of the company’s stock worth $2,142,000 after acquiring an additional 1,964 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of General Mills by 4.7% in the third quarter. Pathstone Holdings LLC now owns 71,142 shares of the company’s stock worth $5,254,000 after acquiring an additional 3,178 shares during the last quarter. Finally, New England Asset Management Inc. boosted its stake in General Mills by 3.0% during the third quarter. New England Asset Management Inc. now owns 36,020 shares of the company’s stock worth $2,660,000 after buying an additional 1,045 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $62.82 on Tuesday. The stock has a 50-day moving average of $70.42 and a 200-day moving average of $68.78. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a market cap of $34.88 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Insider Activity

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock valued at $4,657,676 over the last quarter. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on GIS. Piper Sandler lifted 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. Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Citigroup raised their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.67.

About General Mills

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.