Vontobel Holding Ltd. Sells 37,991 Shares of General Mills, Inc. (NYSE:GIS)

Vontobel Holding Ltd. cut its stake in General Mills, Inc. (NYSE:GIS) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 437,224 shares of the company’s stock after selling 37,991 shares during the period. Vontobel Holding Ltd.’s holdings in General Mills were worth $32,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares in the last quarter. Capital Research Global Investors increased its stake in shares of General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. Legal & General Group Plc lifted its holdings in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $342,478,000 after purchasing an additional 148,235 shares during the period. Finally, Nordea Investment Management AB increased its stake in General Mills by 7.4% during the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock worth $376,459,000 after acquiring an additional 369,628 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathon Nudi sold 9,647 shares of General Mills 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 transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GIS. Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. TD Cowen lifted their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Finally, Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $73.00.

General Mills Stock Performance

NYSE:GIS opened at $71.00 on Thursday. The business’s fifty day moving average is $72.31 and its 200 day moving average is $69.21. The firm has a market cap of $39.63 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 3.71 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm earned $1.09 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is currently 55.68%.

General Mills 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.