Montgomery Investment Management Inc. Sells 1,000 Shares of General Mills, Inc. (NYSE:GIS)

Montgomery Investment Management Inc. cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,743 shares of the company’s stock after selling 1,000 shares during the period. General Mills comprises approximately 3.1% of Montgomery Investment Management Inc.’s portfolio, making the stock its 9th largest position. Montgomery Investment Management Inc.’s holdings in General Mills were worth $8,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in General Mills by 5.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,669 shares of the company’s stock worth $4,775,000 after purchasing an additional 3,065 shares during the last quarter. Carret Asset Management LLC bought a new position in General Mills during the 3rd quarter worth approximately $232,000. DekaBank Deutsche Girozentrale raised its holdings in General Mills by 15.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 913,326 shares of the company’s stock worth $67,854,000 after purchasing an additional 119,955 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of General Mills by 1.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 72,056 shares of the company’s stock valued at $5,321,000 after acquiring an additional 993 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of General Mills by 6.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,216 shares of the company’s stock valued at $533,000 after acquiring an additional 427 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GIS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. TD Cowen lifted their price objective 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. Barclays lifted their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler lifted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.00.

General Mills Price Performance

Shares of NYSE:GIS opened at $68.30 on Monday. The company’s 50-day moving average is $72.31 and its 200 day moving average is $69.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market capitalization of $38.12 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.55 and a beta of 0.10. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This 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 accessible through the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % 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 worth $4,657,676. 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.