Kovack Advisors Inc. Decreases Stock Position in General Mills, Inc. (NYSE:GIS)

Kovack Advisors Inc. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.0% during the third quarter, Holdings Channel.com reports. The fund owned 14,190 shares of the company’s stock after selling 749 shares during the period. Kovack Advisors Inc.’s holdings in General Mills were worth $1,048,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after purchasing an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. Kingsview Wealth Management LLC boosted its holdings in General Mills by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 11,845 shares of the company’s stock valued at $829,000 after purchasing an additional 467 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of General Mills by 3.7% in the 1st quarter. HBK Sorce Advisory LLC now owns 8,509 shares of the company’s stock valued at $595,000 after buying an additional 307 shares during the period. Finally, RFP Financial Group LLC boosted its stake in shares of General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at $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 available through the SEC website. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock worth $4,657,676. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

GIS opened at $65.24 on Thursday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The firm has a market capitalization of $36.22 billion, a PE ratio of 15.53, a PEG ratio of 3.30 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm’s 50-day moving average price is $71.27 and its 200 day moving average price is $68.96.

General Mills (NYSE:GIS) last issued its 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. 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 firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company 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 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Citigroup upped their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Stifel Nicolaus increased their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. One investment 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 MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $73.00.

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.