General Mills, Inc. $GIS Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 10.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,842 shares of the company’s stock after selling 832 shares during the quarter. Valmark Advisers Inc.’s holdings in General Mills were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Charles Schwab Investment Management Inc. lifted its position in General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after buying an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in General Mills during the first quarter valued at approximately $279,570,000. Pacer Advisors Inc. lifted its position in General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after buying an additional 3,373,338 shares in the last quarter. Nuveen LLC acquired a new position in shares of General Mills during the first quarter worth $92,717,000. Finally, Federated Hermes Inc. lifted its position in shares of General Mills by 178.1% during the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock worth $90,908,000 after purchasing an additional 973,798 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Up 0.3%

Shares of NYSE:GIS opened at $49.37 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $49.78 and a 200 day simple moving average of $52.75. The firm has a market cap of $26.33 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $72.55.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 4.9%. General Mills’s payout ratio is presently 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of recent research reports. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group reduced their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, September 8th. UBS Group reduced their target price on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Bernstein Bank reduced their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Barclays reduced their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, September 19th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.82.

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.