General Mills, Inc. (NYSE:GIS) Holdings Cut by Tradition Wealth Management LLC

Tradition Wealth Management LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,534 shares of the company’s stock after selling 642 shares during the quarter. Tradition Wealth Management LLC’s holdings in General Mills were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. American Century Companies Inc. boosted 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 period. Wulff Hansen & CO. boosted its holdings in shares of General Mills by 6,140.4% during the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after acquiring an additional 930,271 shares during the period. International Assets Investment Management LLC grew its position in shares of General Mills by 6,114.0% during the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of NYSE:GIS opened at $66.26 on Monday. The company has a market capitalization of $36.78 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 3.44 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock has a fifty day moving average of $68.78 and a 200-day moving average of $68.47. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results 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. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. General Mills’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

GIS has been the subject of several recent analyst reports. 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 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Barclays increased their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Activity at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is 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.