Fifth Third Wealth Advisors LLC Sells 175 Shares of General Mills, Inc. (NYSE:GIS)

Fifth Third Wealth Advisors LLC lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,677 shares of the company’s stock after selling 175 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in General Mills were worth $419,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Legal & General Group Plc raised its stake in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares during the last quarter. American Century Companies Inc. raised its stake in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in General Mills by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,560,066 shares of the company’s stock worth $225,210,000 after buying an additional 76,074 shares during the last quarter. Finally, abrdn plc raised its stake in General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after buying an additional 92,931 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were 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 in the company, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock worth $4,721,336 in the last three months. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Barclays lifted their price target 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. Stifel Nicolaus lifted their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Up 1.6 %

Shares of NYSE GIS opened at $63.80 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm has a market capitalization of $35.42 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11. The firm has a fifty day simple moving average of $70.00 and a two-hundred day simple moving average of $68.70.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping 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 analyst estimates of $4.80 billion. During the same period in the prior year, the business earned $1.09 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.76%. General Mills’s payout ratio is 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.