General Mills, Inc. (NYSE:GIS) Shares Sold by Charles Schwab Investment Management Inc.

by · The Cerbat Gem

Charles Schwab Investment Management Inc. trimmed its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,417,198 shares of the company’s stock after selling 7,960 shares during the period. Charles Schwab Investment Management Inc. owned 0.62% of General Mills worth $252,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Mesirow Financial Investment Management Inc. grew its holdings in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after purchasing an additional 148 shares during the period. Deseret Mutual Benefit Administrators grew its stake in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the period. Secure Asset Management LLC increased its holdings in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the last quarter. LCM Capital Management Inc raised its position in shares of General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after acquiring an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GIS shares. Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Wells Fargo & Company cut their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Barclays boosted 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.67.

Check Out Our Latest Report on GIS

General Mills Stock Performance

General Mills stock opened at $65.00 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $69.64 and a 200-day moving average of $68.63. The stock has a market cap of $36.09 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.26 and a beta of 0.11. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. On average, analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is currently 57.14%.

Insiders Place Their Bets

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills 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 owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock valued at $4,721,336 in the last quarter. Insiders own 0.26% of the company’s stock.

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 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.

See Also

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