Folger Nolan Fleming Douglas Capital Management Inc. Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in shares of General Mills, Inc. (NYSE:GISGet Rating) by 1.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,374 shares of the company’s stock after selling 200 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Mills were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Clearview Wealth Advisors LLC raised its holdings in shares of General Mills by 2.2% during the 1st quarter. Clearview Wealth Advisors LLC now owns 6,465 shares of the company’s stock valued at $438,000 after purchasing an additional 142 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of General Mills by 1.5% during the 1st quarter. Prospera Financial Services Inc now owns 9,699 shares of the company’s stock valued at $657,000 after purchasing an additional 142 shares in the last quarter. Wealth Alliance raised its holdings in shares of General Mills by 1.9% during the 1st quarter. Wealth Alliance now owns 7,794 shares of the company’s stock valued at $528,000 after purchasing an additional 142 shares in the last quarter. Camden Capital LLC raised its holdings in shares of General Mills by 4.2% during the 1st quarter. Camden Capital LLC now owns 3,608 shares of the company’s stock valued at $244,000 after purchasing an additional 145 shares in the last quarter. Finally, BLB&B Advisors LLC raised its holdings in shares of General Mills by 2.3% during the 1st quarter. BLB&B Advisors LLC now owns 6,545 shares of the company’s stock valued at $443,000 after purchasing an additional 146 shares in the last quarter. 75.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the sale, the insider now directly owns 89,989 shares in the company, valued at approximately $6,749,175. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Mark A. Pallot sold 2,255 shares of General Mills stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $74.66, for a total transaction of $168,358.30. Following the completion of the transaction, the chief accounting officer now directly owns 17,087 shares of the company’s stock, valued at approximately $1,275,715.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the transaction, the insider now directly owns 89,989 shares of the company’s stock, valued at $6,749,175. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,317 shares of company stock worth $7,429,156. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIS. Piper Sandler raised their target price on shares of General Mills from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup raised their target price on shares of General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Royal Bank of Canada raised their target price on shares of General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, July 1st. Morgan Stanley raised their target price on shares of General Mills from $66.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Credit Suisse Group raised their target price on shares of General Mills from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.83.

General Mills Stock Performance

NYSE GIS traded down $2.31 during midday trading on Friday, hitting $78.47. The company had a trading volume of 211,690 shares, compared to its average volume of 4,072,143. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 0.78. The stock has a market cap of $46.75 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.62 and a beta of 0.33. The firm has a fifty day simple moving average of $76.11 and a two-hundred day simple moving average of $71.77. General Mills, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $81.24.

General Mills (NYSE:GISGet Rating) last issued its earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.11. General Mills had a net margin of 15.13% and a return on equity of 23.87%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.06 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio (DPR) is currently 45.47%.

General Mills Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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