General Mills, Inc. $GIS Stock: Sumitomo Mitsui Trust Group Inc. Decreases Stake

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,098,382 shares of the company’s stock after selling 38,875 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in General Mills were worth $35,324,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Brown Shipley& Co Ltd acquired a new stake in General Mills in the 1st quarter worth approximately $26,000. Main Street Group LTD bought a new stake in General Mills during the first quarter worth approximately $27,000. Silvant Capital Management LLC bought a new stake in General Mills during the second quarter worth approximately $26,000. Elevation Wealth Partners LLC bought a new stake in General Mills during the second quarter worth approximately $27,000. Finally, CoreCap Advisors LLC grew its holdings in General Mills by 92.9% during the second quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock valued at $27,000 after purchasing an additional 379 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $36.52 on Friday. The firm’s 50-day moving average is $35.01 and its 200-day moving average is $37.42. General Mills, Inc. has a 52-week low of $31.17 and a 52-week high of $49.59. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.39 and a current ratio of 0.70. The company has a market cap of $19.53 billion and a price-to-earnings ratio of -22.00.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Tuesday, October 13th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.7%. The ex-dividend date was Tuesday, October 13th. General Mills’s payout ratio is currently -146.99%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. TD Cowen lifted their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, September 24th. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. Evercore set a $38.00 price objective on shares of General Mills in a report on Monday, September 14th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $30.00 target price on shares of General Mills in a research note on Thursday, September 24th. Finally, UBS Group reiterated a “sell” rating on shares of General Mills in a research note on Wednesday, September 16th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Reduce” and an average price target of $36.59.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.