Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in General Mills, Inc. (NYSE:GIS) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,781 shares of the company’s stock after selling 3,683 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in General Mills were worth $1,972,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in GIS. Krane Funds Advisors LLC purchased a new position in General Mills in the 2nd quarter worth about $25,000. Ellevest Inc. purchased a new position in General Mills in the 2nd quarter worth about $28,000. Capital International Ltd. CA purchased a new position in General Mills in the 2nd quarter worth about $30,000. Employers Holdings Inc. purchased a new position in General Mills in the 2nd quarter worth about $32,000. Finally, NuWave Investment Management LLC increased its stake in General Mills by 377.4% in the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after buying an additional 502 shares during the period. 68.33% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Kofi A. Bruce sold 15,582 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total value of $846,570.06. Following the sale, the insider now directly owns 35,487 shares in the company, valued at approximately $1,928,008.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathon Nudi sold 18,951 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the completion of the sale, the insider now owns 81,656 shares in the company, valued at $4,451,885.12. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
NYSE GIS traded down $0.12 during trading on Tuesday, reaching $52.24. 1,412,480 shares of the company’s stock traded hands, compared to its average volume of 3,329,721. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71. The company’s 50 day simple moving average is $52.86 and its two-hundred day simple moving average is $52.94. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Research analysts expect that General Mills, Inc. will post 3.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, October 9th. General Mills’s dividend payout ratio (DPR) is 60.87%.
General Mills Company Profile
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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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