Bremer Bank National Association cut its stake in General Mills, Inc. (NYSE:GIS) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,246 shares of the company’s stock after selling 213 shares during the quarter. Bremer Bank National Association’s holdings in General Mills were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GIS. Prestige Wealth Management Group LLC lifted its stake in General Mills by 86.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 483 shares of the company’s stock valued at $25,000 after buying an additional 224 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in General Mills by 94.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the company’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. San Francisco Sentry Investment Group CA lifted its stake in General Mills by 150.5% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 496 shares of the company’s stock worth $31,000 after purchasing an additional 298 shares in the last quarter. Watson Rebecca purchased a new position in General Mills in the 2nd quarter worth approximately $33,000. Finally, Rosenberg Matthew Hamilton purchased a new position in General Mills in the 2nd quarter worth approximately $36,000. 72.40% of the stock is currently owned by hedge funds and other institutional investors.

General Mills stock traded up $0.47 during trading on Friday, hitting $61.78. The company had a trading volume of 1,443,562 shares, compared to its average volume of 4,145,473. General Mills, Inc. has a 1-year low of $46.59 and a 1-year high of $66.14. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 1.24. The company’s 50 day simple moving average is $60.65 and its 200-day simple moving average is $61.47. The stock has a market cap of $37.77 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 2.27 and a beta of 0.60.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.13. General Mills had a net margin of 12.78% and a return on equity of 28.46%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts forecast that General Mills, Inc. will post 3.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.30%. This is a boost from General Mills’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 8th. General Mills’s payout ratio is presently 56.51%.

GIS has been the topic of a number of research reports. Piper Sandler raised their target price on shares of General Mills from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Credit Suisse Group raised shares of General Mills from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $65.00 to $67.00 in a research note on Friday, September 25th. Morgan Stanley raised their target price on shares of General Mills from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 24th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, July 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $63.56.

In other news, insider Sean N. Walker sold 9,062 shares of General Mills stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $61.59, for a total value of $558,128.58. Following the completion of the transaction, the insider now owns 66,793 shares in the company, valued at approximately $4,113,780.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathon Nudi sold 10,786 shares of General Mills stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $61.64, for a total value of $664,849.04. Following the completion of the transaction, the insider now owns 64,122 shares of the company’s stock, valued at approximately $3,952,480.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,849 shares of company stock worth $1,223,040. 0.51% of the stock is owned by company insiders.

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.

Further Reading: What is the Ex-Dividend Date in Investing?

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

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