Captrust Financial Advisors Cuts Stake in General Mills, Inc. (NYSE:GIS)

Captrust Financial Advisors lessened its stake in General Mills, Inc. (NYSE:GIS) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,616 shares of the company’s stock after selling 951 shares during the quarter. Captrust Financial Advisors’ holdings in General Mills were worth $24,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GIS. Vinva Investment Management Ltd raised its holdings in General Mills by 2.1% in the third quarter. Vinva Investment Management Ltd now owns 24,024 shares of the company’s stock worth $1,787,000 after buying an additional 495 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in General Mills by 11.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 24,035 shares of the company’s stock worth $1,775,000 after acquiring an additional 2,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in General Mills by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 534,409 shares of the company’s stock worth $39,466,000 after acquiring an additional 3,993 shares during the last quarter. Providence Capital Advisors LLC lifted its position in General Mills by 1.0% in the 3rd quarter. Providence Capital Advisors LLC now owns 38,641 shares of the company’s stock valued at $2,854,000 after acquiring an additional 377 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in General Mills by 80.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 13,362 shares of the company’s stock valued at $987,000 after purchasing an additional 5,955 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock valued at $4,721,336. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Piper Sandler raised their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Barclays raised their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Finally, TD Cowen boosted their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

NYSE:GIS opened at $66.28 on Friday. The stock has a 50-day simple moving average of $68.78 and a two-hundred day simple moving average of $68.49. 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. The firm has a market capitalization of $36.80 billion, a PE ratio of 15.78, a P/E/G ratio of 3.44 and a beta of 0.11.

General Mills (NYSE:GIS) last released its 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts forecast 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 Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

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.