Metis Global Partners LLC Sells 3,008 Shares of General Mills, Inc. $GIS

Metis Global Partners LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,352 shares of the company’s stock after selling 3,008 shares during the quarter. Metis Global Partners LLC’s holdings in General Mills were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GIS. KCM Investment Advisors LLC grew its position in General Mills by 10.7% in the second quarter. KCM Investment Advisors LLC now owns 6,763 shares of the company’s stock worth $350,000 after acquiring an additional 654 shares in the last quarter. Wedbush Securities Inc. lifted its stake in General Mills by 21.1% during the second quarter. Wedbush Securities Inc. now owns 16,745 shares of the company’s stock worth $868,000 after purchasing an additional 2,916 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of General Mills by 16.1% in the 2nd quarter. Savant Capital LLC now owns 35,176 shares of the company’s stock worth $1,822,000 after purchasing an additional 4,891 shares in the last quarter. Excalibur Management Corp increased its position in shares of General Mills by 3.0% during the 2nd quarter. Excalibur Management Corp now owns 16,694 shares of the company’s stock valued at $865,000 after purchasing an additional 480 shares during the last quarter. Finally, SouthState Corp raised its holdings in shares of General Mills by 44.2% during the 2nd quarter. SouthState Corp now owns 3,326 shares of the company’s stock valued at $172,000 after buying an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GIS shares. Mizuho cut their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, September 19th. UBS Group reduced their target price on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Bernstein Bank decreased their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Performance

General Mills stock opened at $46.89 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market cap of $25.01 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 1-year low of $45.80 and a 1-year high of $67.40. The firm has a 50-day moving average of $49.02 and a 200-day moving average of $51.12.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the company posted $1.07 EPS. General Mills’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. General Mills’s dividend payout ratio (DPR) is presently 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

About General Mills

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.