Highland Capital Management LLC Has $432,000 Position in General Mills, Inc. (NYSE:GIS)

Highland Capital Management LLC lessened its position in General Mills, Inc. (NYSE:GIS) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,856 shares of the company’s stock after selling 778 shares during the period. Highland Capital Management LLC’s holdings in General Mills were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arkadios Wealth Advisors increased its holdings in General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of General Mills by 16.1% in 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 buying an additional 96,712 shares during the period. iA Global Asset Management Inc. increased its stake in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after buying an additional 23,411 shares during the period. Finally, DNB Asset Management AS increased its stake in shares of General Mills by 10.5% in the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after buying an additional 11,334 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’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 value of $173,514.75. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’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 value of $173,514.75. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’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 completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

General Mills Stock Down 0.5 %

Shares of NYSE:GIS opened at $68.30 on Monday. The business’s 50 day simple moving average is $72.31 and its two-hundred day simple moving average is $69.17. The firm has a market cap of $38.12 billion, a P/E ratio of 15.85, a PEG ratio of 3.55 and a beta of 0.10. 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, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.51%. General Mills’s payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

GIS has been the subject of several recent research reports. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Barclays increased their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. TD Cowen increased their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $73.00.

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.