My Legacy Advisors LLC Trims Stock Holdings in General Mills, Inc. (NYSE:GIS)

My Legacy Advisors LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 27.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,337 shares of the company’s stock after selling 3,852 shares during the quarter. My Legacy Advisors LLC’s holdings in General Mills were worth $763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the period. RFP Financial Group LLC increased its holdings in shares of General Mills by 66.3% in the 1st 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. GoalVest Advisory LLC lifted its position in General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares during the last quarter. First Foundation Advisors boosted its stake in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in General Mills in the first quarter worth approximately $35,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 0.1 %

GIS traded up $0.08 during midday trading on Tuesday, reaching $68.85. The company’s stock had a trading volume of 1,089,065 shares, compared to its average volume of 3,897,456. 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 stock’s 50-day moving average is $72.37 and its 200-day moving average is $69.20. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market capitalization of $38.43 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 3.71 and a beta of 0.10.

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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. General Mills’s dividend payout ratio is presently 55.68%.

Insider Activity

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’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 completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 completion of the sale, the insider now owns 36,184 shares of the company’s stock, 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. Insiders have sold a total of 20,055 shares of company stock worth $1,467,311 over the last 90 days. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Barclays increased their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus boosted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Citigroup increased their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus target price of $73.00.

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.