Dumont & Blake Investment Advisors LLC Sells 18,330 Shares of General Mills, Inc. (NYSE:GIS)

Dumont & Blake Investment Advisors LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 49.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,472 shares of the company’s stock after selling 18,330 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in General Mills were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. North Star Investment Management Corp. grew its stake in General Mills by 0.8% during the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after acquiring an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the period. Park Place Capital Corp grew its position in shares of General Mills by 40.6% during the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after purchasing an additional 157 shares during the period. Finally, LCM Capital Management Inc raised its position in shares of General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GIS shares. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wells Fargo & Company upped their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Finally, Bank of America raised their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.00.

General Mills Price Performance

General Mills stock traded up $0.17 during mid-day trading on Friday, reaching $68.78. 48,621 shares of the company’s stock traded hands, compared to its average volume of 3,880,066. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.71 and a beta of 0.10. The stock has a 50 day moving average of $72.33 and a two-hundred day moving average of $69.19. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is 55.68%.

Insiders Place Their Bets

In other news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated 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 approximately $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was 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 in the last three months. Corporate insiders own 0.24% of the company’s stock.

General Mills Company 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.