Mengis Capital Management Inc. Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Mengis Capital Management Inc. reduced its position in shares of General Mills, Inc. (NYSE:GISFree Report) by 1.7% in the third quarter, HoldingsChannel reports. The firm owned 11,692 shares of the company’s stock after selling 201 shares during the quarter. Mengis Capital Management Inc.’s holdings in General Mills were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Cibc World Market Inc. lifted its position in shares of General Mills by 4.8% during the 1st quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock valued at $1,492,000 after buying an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in General Mills by 45.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after purchasing an additional 1,828 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in General Mills by 2.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after purchasing an additional 1,503 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in General Mills by 2.3% in the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after purchasing an additional 6,176 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in General Mills by 15.3% in the 1st quarter. Covestor Ltd now owns 1,834 shares of the company’s stock worth $124,000 after purchasing an additional 244 shares in the last quarter. 75.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on General Mills from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, December 21st. Evercore ISI decreased their price objective on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a report on Monday, December 11th. Mizuho decreased their price objective on General Mills from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, December 22nd. Piper Sandler decreased their price objective on General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, December 15th. Finally, Bank of America cut their target price on General Mills from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.67.

View Our Latest Stock Analysis on GIS

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the transaction, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares in the company, valued at $6,602,574.60. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

General Mills Stock Up 1.2 %

Shares of NYSE GIS traded up $0.74 during mid-day trading on Monday, reaching $63.08. 3,398,831 shares of the company were exchanged, compared to its average volume of 4,104,922. The company has a quick ratio of 0.36, a current ratio of 0.64 and a debt-to-equity ratio of 1.09. The stock has a market cap of $35.82 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.18 and a beta of 0.16. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The firm has a 50-day moving average of $64.73 and a 200 day moving average of $65.87.

General Mills (NYSE:GISGet Free Report) last released its quarterly earnings results on Wednesday, December 20th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. General Mills had a return on equity of 25.44% and a net margin of 12.06%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 57.42%.

General Mills Company Profile

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

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

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