General Mills, Inc. (NYSE:GIS) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 14.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,494 shares of the company’s stock after selling 36,904 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in General Mills were worth $16,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GIS. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter worth about $27,000. First Foundation Advisors increased its holdings in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the last quarter. Planning Capital Management Corp raised its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares in the last quarter. TruNorth Capital Management LLC bought a new position in General Mills during the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC grew its position in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.8 %

Shares of NYSE:GIS opened at $65.53 on Tuesday. The company’s 50-day moving average price is $69.46 and its two-hundred day moving average price is $68.59. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a market capitalization of $36.38 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 3.38 and a beta of 0.11.

General Mills (NYSE:GIS) last announced 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GIS. Barclays raised their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Stifel Nicolaus upped 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. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $72.67.

Insider Buying and Selling

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 shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated 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 owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by company insiders.

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.