General Mills, Inc. (NYSE:GIS) Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,942 shares of the company’s stock after selling 1,600 shares during the quarter. Kimelman & Baird LLC’s holdings in General Mills were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GIS. Aigen Investment Management LP acquired a new position in General Mills in the 3rd quarter valued at about $225,000. Oppenheimer Asset Management Inc. acquired a new position in General Mills in the 3rd quarter valued at about $243,000. OneDigital Investment Advisors LLC raised its stake in General Mills by 9.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,186 shares of the company’s stock valued at $752,000 after purchasing an additional 838 shares during the last quarter. CIBC Asset Management Inc raised its stake in General Mills by 5.9% in the 3rd quarter. CIBC Asset Management Inc now owns 96,370 shares of the company’s stock valued at $7,117,000 after purchasing an additional 5,371 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in General Mills by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 79,835 shares of the company’s stock valued at $5,896,000 after purchasing an additional 4,859 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the subject of several analyst reports. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Citigroup dropped their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group upped their price objective on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $67.71.

General Mills Stock Down 0.5 %

NYSE GIS opened at $59.53 on Monday. The stock has a market cap of $32.82 billion, a PE ratio of 12.94, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The business has a 50 day moving average price of $60.10 and a two-hundred day moving average price of $65.62. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.