General Mills, Inc. (NYSE:GIS) Shares Sold by Ossiam

Ossiam cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 27.1% in the 2nd quarter, Holdings Channel reports. The firm owned 47,999 shares of the company’s stock after selling 17,868 shares during the period. Ossiam’s holdings in General Mills were worth $2,825,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Toroso Investments LLC acquired a new stake in shares of General Mills during the second quarter valued at approximately $428,000. Kore Private Wealth LLC raised its holdings in shares of General Mills by 17.1% during the second quarter. Kore Private Wealth LLC now owns 5,616 shares of the company’s stock valued at $342,000 after acquiring an additional 821 shares during the period. Inscription Capital LLC raised its holdings in shares of General Mills by 666.9% during the second quarter. Inscription Capital LLC now owns 49,309 shares of the company’s stock valued at $3,004,000 after acquiring an additional 42,879 shares during the period. Lincoln National Corp raised its holdings in shares of General Mills by 20.7% during the second quarter. Lincoln National Corp now owns 14,636 shares of the company’s stock valued at $892,000 after acquiring an additional 2,510 shares during the period. Finally, Alpha Paradigm Partners LLC raised its holdings in shares of General Mills by 155.0% during the second quarter. Alpha Paradigm Partners LLC now owns 10,278 shares of the company’s stock valued at $626,000 after acquiring an additional 6,248 shares during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

Shares of GIS stock traded up $0.22 during mid-day trading on Thursday, reaching $62.08. The company’s stock had a trading volume of 16,193 shares, compared to its average volume of 4,127,294. General Mills, Inc. has a 1-year low of $53.96 and a 1-year high of $64.65. The company has a market cap of $37.60 billion, a P/E ratio of 16.37, a PEG ratio of 2.06 and a beta of 0.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.48 and a current ratio of 0.70. The firm’s 50-day moving average is $59.33 and its two-hundred day moving average is $60.56.

General Mills (NYSE:GIS) last announced its earnings results on Tuesday, September 21st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.30 billion. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 3.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 8th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, October 7th. General Mills’s dividend payout ratio (DPR) is currently 53.83%.

A number of research firms have recently issued reports on GIS. Citigroup upgraded shares of General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the company from $63.00 to $70.00 in a report on Thursday, September 30th. Jefferies Financial Group assumed coverage on shares of General Mills in a report on Thursday, September 23rd. They set a “hold” rating and a $64.00 price target on the stock. Credit Suisse Group lowered shares of General Mills from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $63.00 in a research note on Monday, September 13th. Royal Bank of Canada increased their price target on shares of General Mills from $65.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 23rd. Finally, Morgan Stanley downgraded shares of General Mills from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $57.00 to $51.00 in a report on Tuesday, September 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.57.

In other General Mills news, General Counsel Richard C. Allendorf sold 9,731 shares of the firm’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $60.54, for a total value of $589,114.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn P. Ogrady sold 28,614 shares of the firm’s stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $60.48, for a total transaction of $1,730,574.72. The disclosure for this sale can be found here. Insiders have sold a total of 48,070 shares of company stock valued at $2,917,291 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

About General Mills

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It 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.

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

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