Wealth Advisors of Tampa Bay LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,830 shares of the company’s stock after selling 6,092 shares during the quarter. General Mills makes up approximately 2.2% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 17th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in General Mills were worth $2,636,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC acquired a new position in General Mills during the 3rd quarter valued at about $204,000. Trillium Asset Management LLC increased its holdings in General Mills by 1.7% in the 3rd quarter. Trillium Asset Management LLC now owns 265,990 shares of the company’s stock valued at $14,661,000 after purchasing an additional 4,478 shares in the last quarter. Rational Advisors LLC increased its stake in shares of General Mills by 163.5% in the third quarter. Rational Advisors LLC now owns 1,673 shares of the company’s stock valued at $92,000 after purchasing an additional 1,038 shares during the period. Corient Capital Partners LLC acquired a new stake in shares of General Mills during the 3rd quarter valued at $272,000. Finally, Banco Santander S.A. bought a new position in shares of General Mills during the 3rd quarter worth about $866,000. Institutional investors own 68.33% of the company’s stock.

In other news, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now directly owns 35,487 shares in the company, valued at $1,928,008.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathon Nudi sold 18,951 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the completion of the sale, the insider now owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on GIS shares. Stifel Nicolaus upped their price target on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Credit Suisse Group reaffirmed a “hold” rating and set a $56.00 price target on shares of General Mills in a research report on Thursday, September 12th. Royal Bank of Canada started coverage on shares of General Mills in a research note on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 price target on the stock. Morgan Stanley raised their price target on shares of General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Finally, Barclays reiterated a “hold” rating and issued a $55.00 price objective on shares of General Mills in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. General Mills currently has a consensus rating of “Hold” and an average price target of $53.82.

NYSE GIS traded down $0.07 during trading on Thursday, reaching $52.53. The company’s stock had a trading volume of 1,849,990 shares, compared to its average volume of 4,079,693. The company has a current ratio of 0.62, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $31.65 billion, a PE ratio of 16.31, a PEG ratio of 2.22 and a beta of 0.71. The business has a 50-day moving average price of $52.79 and a 200-day moving average price of $52.95. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $56.40.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. As a group, analysts expect that General Mills, Inc. will post 3.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Wednesday, October 9th. General Mills’s payout ratio is 60.87%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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