Toroso Investments LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

Toroso Investments LLC decreased its stake in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 35,910 shares of the company’s stock after selling 212 shares during the period. Toroso Investments LLC’s holdings in General Mills were worth $2,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Continental Investors Services Inc. purchased a new stake in General Mills during the 3rd quarter worth about $411,000. IHT Wealth Management LLC increased its stake in General Mills by 22.7% in the 3rd quarter. IHT Wealth Management LLC now owns 5,551 shares of the company’s stock worth $425,000 after acquiring an additional 1,028 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in General Mills by 39.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,365 shares of the company’s stock worth $1,179,000 after acquiring an additional 4,357 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in General Mills in the 3rd quarter worth about $4,303,000. Finally, Power Corp of Canada bought a new position in General Mills in the 3rd quarter worth about $3,724,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group upgraded General Mills from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $88.00 in a research note on Thursday, January 26th. Piper Sandler increased their price objective on General Mills from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Wells Fargo & Company started coverage on General Mills in a research report on Tuesday, January 3rd. They set an “equal weight” rating and a $88.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered General Mills from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research report on Tuesday, December 6th. Finally, StockNews.com started coverage on General Mills in a research report on Thursday. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.94.

General Mills Price Performance

GIS opened at $80.47 on Friday. The stock’s 50 day simple moving average is $78.91 and its 200 day simple moving average is $79.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.58 and a quick ratio of 0.35. General Mills, Inc. has a 1 year low of $61.67 and a 1 year high of $88.34. The firm has a market cap of $47.45 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.55 and a beta of 0.28.

General Mills (NYSE:GIS – Get Rating) last posted its quarterly earnings results on Tuesday, December 20th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.04. General Mills had a return on equity of 24.09% and a net margin of 15.02%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. As a group, analysts predict that General Mills, Inc. will post 4.18 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s dividend payout ratio (DPR) is currently 45.09%.

Insiders Place Their Bets

In other General Mills news, insider Sean N. Walker sold 27,157 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $84.87, for a total value of $2,304,814.59. Following the completion of the sale, the insider now owns 90,975 shares in the company, valued at approximately $7,721,048.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Mark A. Pallot sold 1,955 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $85.99, for a total value of $168,110.45. Following the completion of the transaction, the chief accounting officer now owns 17,146 shares in the company, valued at approximately $1,474,384.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean N. Walker sold 27,157 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $84.87, for a total value of $2,304,814.59. Following the completion of the transaction, the insider now owns 90,975 shares of the company’s stock, valued at approximately $7,721,048.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,006 shares of company stock worth $3,393,359. 0.67% of the stock is currently owned by company insiders.

About General Mills

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.