Bartlett & CO. Wealth Management LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Bartlett & CO. Wealth Management LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,009 shares of the company’s stock after selling 3,370 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in General Mills were worth $1,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Citizens Bank & Trust Co. grew its holdings in General Mills by 11.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,866 shares of the company’s stock valued at $433,000 after purchasing an additional 625 shares in the last quarter. Capital Investment Advisors LLC boosted its position in General Mills by 1.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 20,646 shares of the company’s stock valued at $1,525,000 after buying an additional 286 shares during the last quarter. Blue Trust Inc. grew its stake in shares of General Mills by 134.7% during the third quarter. Blue Trust Inc. now owns 19,894 shares of the company’s stock valued at $1,469,000 after acquiring an additional 11,418 shares in the last quarter. West Oak Capital LLC increased its position in shares of General Mills by 8.4% during the third quarter. West Oak Capital LLC now owns 29,395 shares of the company’s stock worth $2,171,000 after acquiring an additional 2,290 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its holdings in General Mills by 1.7% in the third quarter. Stratos Wealth Advisors LLC now owns 10,604 shares of the company’s stock valued at $783,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of several analyst reports. Bank of America lifted their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Mizuho decreased their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,055 shares of company stock worth $1,467,311 in the last three months. 0.24% of the stock is currently owned by insiders.

General Mills Stock Down 1.1 %

GIS opened at $69.93 on Friday. 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 company has a market capitalization of $39.03 billion, a PE ratio of 16.23, a P/E/G ratio of 3.71 and a beta of 0.10. The stock’s fifty day moving average is $72.36 and its 200-day moving average is $69.21. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for 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%. General Mills’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.43%. General Mills’s dividend payout ratio is currently 55.68%.

About General Mills

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.