Woodmont Investment Counsel LLC Has $2.94 Million Position in General Mills, Inc. (NYSE:GIS)

Woodmont Investment Counsel LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,822 shares of the company’s stock after selling 2,159 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in General Mills were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors raised its stake in shares of General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares during the last quarter. iA Global Asset Management Inc. grew its position in General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after acquiring an additional 23,411 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after purchasing an additional 43,086 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective 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. Wells Fargo & Company boosted their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.00.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on 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 in the company, valued at $24,379,054.08. The trade was 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 at this link. In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by corporate insiders.

General Mills Price Performance

Shares of General Mills stock opened at $65.99 on Thursday. The firm has a fifty day moving average price of $71.86 and a two-hundred day moving average price of $69.15. 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 current ratio of 0.66 and a quick ratio of 0.39. The company has a market cap of $36.64 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 analysts’ expectations of $4.80 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is presently 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.