Oppenheimer & Co. Inc. Sells 4,733 Shares of General Mills, Inc. (NYSE:GIS)

Oppenheimer & Co. Inc. cut its holdings in General Mills, Inc. (NYSE:GIS) by 10.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,678 shares of the company’s stock after selling 4,733 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in General Mills were worth $3,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Saturna Capital Corp lifted its position in General Mills by 28.0% during the 3rd quarter. Saturna Capital Corp now owns 6,302 shares of the company’s stock worth $465,000 after acquiring an additional 1,379 shares during the period. Pinnacle Financial Partners Inc raised its position in shares of General Mills by 0.9% in the third quarter. Pinnacle Financial Partners Inc now owns 31,403 shares of the company’s stock worth $2,319,000 after acquiring an additional 265 shares during the period. MQS Management LLC boosted its position in General Mills by 10.5% during the third quarter. MQS Management LLC now owns 9,918 shares of the company’s stock worth $732,000 after purchasing an additional 945 shares in the last quarter. Hamel Associates Inc. purchased a new position in shares of General Mills during the 3rd quarter valued at approximately $4,017,000. Finally, Empower Advisory Group LLC lifted its holdings in General Mills by 0.7% during the third quarter. Empower Advisory Group LLC now owns 130,996 shares of the company’s stock valued at $9,674,000 after purchasing an additional 897 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’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 sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 35.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills 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 directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,555 shares of company stock worth $4,657,676. Company insiders own 0.26% of the company’s stock.

General Mills Stock Down 2.3 %

General Mills stock opened at $63.21 on Friday. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 3.35 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $70.91 and a two-hundred day moving average of $68.90. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during 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%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GIS. Bank of America lifted their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Barclays raised their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Citigroup boosted their price target 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. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company reduced their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.67.

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.