Lynch & Associates IN Reduces Position in General Mills, Inc. (NYSE:GIS)

Lynch & Associates IN cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,149 shares of the company’s stock after selling 1,163 shares during the period. Lynch & Associates IN’s holdings in General Mills were worth $2,670,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GIS. Chicago Partners Investment Group LLC boosted its position in shares of General Mills by 13.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,952 shares of the company’s stock valued at $315,000 after buying an additional 576 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $57,000. Creekmur Asset Management LLC purchased a new stake in shares of General Mills during the 4th quarter valued at about $37,000. Fisher Asset Management LLC lifted its stake in shares of General Mills by 0.9% in the 4th quarter. Fisher Asset Management LLC now owns 111,233 shares of the company’s stock worth $7,246,000 after purchasing an additional 978 shares during the period. Finally, SageView Advisory Group LLC boosted its holdings in shares of General Mills by 24.0% in the fourth quarter. SageView Advisory Group LLC now owns 15,615 shares of the company’s stock worth $1,020,000 after buying an additional 3,020 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the topic of several recent research reports. Mizuho decreased their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, Evercore ISI cut their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Price Performance

Shares of NYSE:GIS opened at $71.23 on Wednesday. The firm has a market cap of $39.76 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 3.71 and a beta of 0.10. The firm has a fifty day moving average price of $72.27 and a 200 day moving average price of $69.20. 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) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.37%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

General Mills 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.