KCM Investment Advisors LLC Reduces Stock Position in General Mills, Inc. (NYSE:GIS)

KCM Investment Advisors LLC lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,705 shares of the company’s stock after selling 497 shares during the period. KCM Investment Advisors LLC’s holdings in General Mills were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Valley Wealth Managers Inc. lifted its position in shares of General Mills by 0.7% during the third quarter. Valley Wealth Managers Inc. now owns 57,490 shares of the company’s stock worth $4,246,000 after acquiring an additional 397 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of General Mills by 6.5% in the third quarter. Empowered Funds LLC now owns 79,835 shares of the company’s stock worth $5,896,000 after buying an additional 4,859 shares during the period. Empirical Finance LLC increased its holdings in shares of General Mills by 2.0% in the third quarter. Empirical Finance LLC now owns 20,160 shares of the company’s stock worth $1,489,000 after buying an additional 388 shares during the period. Vectors Research Management LLC increased its holdings in shares of General Mills by 1.6% in the third quarter. Vectors Research Management LLC now owns 22,014 shares of the company’s stock worth $1,627,000 after buying an additional 340 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of General Mills by 5.9% in the third quarter. CIBC Asset Management Inc now owns 96,370 shares of the company’s stock worth $7,117,000 after buying an additional 5,371 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of several analyst reports. TD Cowen lifted their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Citigroup lifted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Stifel Nicolaus raised their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Finally, Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Performance

General Mills stock opened at $63.21 on Friday. The stock’s 50 day simple moving average is $70.67 and its two-hundred day simple moving average is $68.85. 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 stock has a market cap of $35.09 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 3.35 and a beta of 0.11. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week 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 analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.80%. General Mills’s dividend 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.