Accredited Investors Inc. Cuts Holdings in General Mills, Inc. (NYSE:GIS)

Accredited Investors Inc. lowered its holdings in General Mills, Inc. (NYSE:GIS) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,910 shares of the company’s stock after selling 7,640 shares during the quarter. Accredited Investors Inc.’s holdings in General Mills were worth $8,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Capital Research Global Investors lifted its position in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the period. Legal & General Group Plc boosted its holdings in General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP grew its position in General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares during the period. Finally, American Century Companies Inc. raised its stake in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock valued at $4,657,676 in the last 90 days. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GIS. Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. TD Cowen upped their price target on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. 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. The Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Performance

NYSE GIS opened at $63.21 on Friday. 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, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The business has a 50-day moving average price of $70.67 and a 200-day moving average price of $68.84. The firm has a market cap of $35.09 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, October 10th. General Mills’s payout ratio is currently 57.14%.

About General Mills

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.