General Mills, Inc. (NYSE:GIS) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in General Mills, Inc. (NYSE:GIS) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,999 shares of the company’s stock after selling 1,461 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.07% of General Mills worth $29,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in shares of General Mills in the 3rd quarter valued at $27,000. RFP Financial Group LLC grew its position in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. First Foundation Advisors raised its stake in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of General Mills during the second quarter worth about $38,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was 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 owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GIS. Wells Fargo & Company boosted their price objective on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Bank of America boosted their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays upped their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills Price Performance

GIS stock traded up $0.18 during midday trading on Thursday, hitting $66.17. 194,939 shares of the stock were exchanged, compared to its average volume of 3,871,830. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.50 and a beta of 0.11. The stock’s 50-day moving average price is $71.86 and its 200-day moving average price is $69.15. 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 results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. Research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is currently 57.14%.

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.