Symphony Financial Ltd. Co. Decreases Position in General Mills, Inc. (NYSE:GIS)

by · The Markets Daily

Symphony Financial Ltd. Co. cut its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 41.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,265 shares of the company’s stock after selling 3,042 shares during the period. Symphony Financial Ltd. Co.’s holdings in General Mills were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its position in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. RFP Financial Group LLC raised its holdings in shares of General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the period. GoalVest Advisory LLC raised its holdings in shares of General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares during the period. First Foundation Advisors raised its holdings in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of General Mills in the first quarter worth approximately $35,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,055 shares of company stock worth $1,467,311. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of several recent analyst reports. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Mizuho reduced their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Evercore ISI reduced their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.00.

Read Our Latest Report on General Mills

General Mills Stock Performance

Shares of GIS opened at $69.09 on Wednesday. The stock has a 50-day moving average of $72.37 and a two-hundred day moving average of $69.20. The stock has a market cap of $38.56 billion, a P/E ratio of 16.03, a P/E/G ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a one year low of $61.47 and a one year 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 released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue was down 1.2% on a year-over-year basis. As a group, research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

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.

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