Brooklyn Investment Group Sells 674 Shares of General Mills, Inc. (NYSE:GIS)

by · The Markets Daily

Brooklyn Investment Group trimmed its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 14.6% in the third quarter, Holdings Channel reports. The fund owned 3,932 shares of the company’s stock after selling 674 shares during the period. Brooklyn Investment Group’s holdings in General Mills were worth $290,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GIS. Values First Advisors Inc. acquired a new stake in General Mills during the 3rd quarter worth approximately $27,000. First Foundation Advisors lifted its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp boosted its position in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of General Mills during the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC raised its holdings in shares of General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock valued at $4,721,336 in the last three months. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Up 0.7 %

GIS opened at $66.02 on Wednesday. The stock has a fifty day moving average of $69.29 and a 200-day moving average of $68.55. The company has a market capitalization of $36.65 billion, a P/E ratio of 15.72, a P/E/G ratio of 3.41 and a beta of 0.11. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. 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 (NYSE:GIS – Get Free Report) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. TD Cowen raised their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Citigroup upped their price target on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $72.67.

View Our Latest Research Report on GIS

General Mills 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.

Recommended Stories

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS – Free Report).