Tower Bridge Advisors Sells 400 Shares of General Mills, Inc. (NYSE:GIS)

Tower Bridge Advisors decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,330 shares of the company’s stock after selling 400 shares during the quarter. Tower Bridge Advisors’ holdings in General Mills were worth $320,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GIS. Arkadios Wealth Advisors increased its stake in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after acquiring an additional 10,765 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in 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 acquiring an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in General Mills by 92.5% during the 1st 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 during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after buying an additional 104,436 shares during the last quarter. Finally, DNB Asset Management AS boosted its holdings in shares of General Mills by 10.5% in the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after buying an additional 11,334 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction 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 sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is currently owned by insiders.

General Mills Stock Down 2.3 %

GIS stock opened at $63.21 on Monday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market cap of $35.09 billion, a P/E ratio of 15.05, a PEG ratio of 3.25 and a beta of 0.11. The business’s 50-day moving average price is $70.67 and its 200-day moving average price is $68.84.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The business also recently announced 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 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 is currently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Stifel Nicolaus upped their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company decreased their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Cowen upped their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Barclays upped 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. One investment 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. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus target price of $72.67.

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.