Ascent Group LLC Sells 1,059 Shares of General Mills, Inc. (NYSE:GIS)

Ascent Group LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,472 shares of the company’s stock after selling 1,059 shares during the period. Ascent Group LLC’s holdings in General Mills were worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Vanguard Group Inc. grew its stake in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after acquiring an additional 8,444,312 shares during the last quarter. Capital Research Global Investors grew its position in General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. American Century Companies Inc. grew its position in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. increased its stake in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after purchasing an additional 930,271 shares in the last quarter. Finally, Swedbank AB purchased a new position in General Mills in the first quarter worth about $36,177,000. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $74.38 on Monday. The company has a 50-day moving average price of $70.90 and a 200-day moving average price of $68.87. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $41.51 billion, a P/E ratio of 17.26, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.23%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. 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 note on Friday, September 20th. Evercore ISI lowered their price target 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. Finally, Piper Sandler lifted 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.73.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s 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 of the company’s stock, valued at $2,700,411.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

General Mills Company 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.