Apollon Wealth Management LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Apollon Wealth Management LLC decreased its holdings in General Mills, Inc. (NYSE:GIS) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,825 shares of the company’s stock after selling 1,921 shares during the quarter. Apollon Wealth Management LLC’s holdings in General Mills were worth $1,612,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GIS. Kingsview Wealth Management LLC boosted its stake in shares of General Mills by 4.1% during the first quarter. Kingsview Wealth Management LLC now owns 11,845 shares of the company’s stock valued at $829,000 after acquiring an additional 467 shares during the last quarter. HBK Sorce Advisory LLC raised its position 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 purchasing an additional 307 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its holdings in shares of General Mills by 34.0% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 74,993 shares of the company’s stock valued at $5,247,000 after acquiring an additional 19,037 shares during the last quarter. Intech Investment Management LLC grew its stake in General Mills by 67.9% during the 1st quarter. Intech Investment Management LLC now owns 400,811 shares of the company’s stock worth $28,045,000 after buying an additional 162,058 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other news, 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 of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Down 0.8 %

Shares of GIS stock opened at $64.71 on Friday. The company has a market capitalization of $35.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.30 and a beta of 0.11. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company’s fifty day moving average price is $71.10 and its 200-day moving average price is $68.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts expect 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 was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen upped their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Barclays raised their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Bank of America raised their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.