Wedgewood Investors Inc. PA Has $781,000 Stock Holdings in General Mills, Inc. (NYSE:GIS)

Wedgewood Investors Inc. PA trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,670 shares of the company’s stock after selling 400 shares during the period. General Mills comprises 1.2% of Wedgewood Investors Inc. PA’s holdings, making the stock its 28th biggest position. Wedgewood Investors Inc. PA’s holdings in General Mills were worth $781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its position in shares of General Mills by 94.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the company’s stock valued at $30,000 after buying an additional 237 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its position in shares of General Mills by 150.5% in the second quarter. San Francisco Sentry Investment Group CA now owns 496 shares of the company’s stock valued at $31,000 after buying an additional 298 shares during the last quarter. Watson Rebecca acquired a new stake in shares of General Mills in the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of General Mills in the second quarter valued at approximately $36,000. Finally, TCTC Holdings LLC acquired a new stake in shares of General Mills in the second quarter valued at approximately $37,000. 72.40% of the stock is owned by institutional investors.

Shares of GIS traded down $0.40 during midday trading on Monday, hitting $60.57. The company’s stock had a trading volume of 100,227 shares, compared to its average volume of 4,076,260. General Mills, Inc. has a one year low of $46.59 and a one year high of $66.14. The company’s fifty day simple moving average is $60.99 and its two-hundred day simple moving average is $61.66. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.24 and a beta of 0.61.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.13. General Mills had a return on equity of 28.46% and a net margin of 12.78%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 3.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 8th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, January 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.37%. General Mills’s payout ratio is 56.51%.

In related news, insider Sean N. Walker sold 9,062 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $61.59, for a total transaction of $558,128.58. Following the sale, the insider now owns 66,793 shares of the company’s stock, valued at approximately $4,113,780.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 10,786 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $61.64, for a total value of $664,849.04. Following the sale, the insider now directly owns 64,122 shares in the company, valued at approximately $3,952,480.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,159 shares of company stock worth $1,606,498. Corporate insiders own 0.51% of the company’s stock.

Several analysts recently weighed in on GIS shares. Credit Suisse Group raised General Mills from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $67.00 in a report on Friday, September 25th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a report on Thursday, September 24th. Piper Sandler lifted their price target on General Mills from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. CSFB raised General Mills to an “outperform” rating and set a $67.00 price target for the company in a report on Friday, September 25th. Finally, Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a report on Monday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.39.

General Mills 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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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

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