Sawgrass Asset Management LLC Sells 374 Shares of General Mills, Inc. (NYSE:GIS)

Sawgrass Asset Management LLC lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,719 shares of the company’s stock after selling 374 shares during the quarter. Sawgrass Asset Management LLC’s holdings in General Mills were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter valued at about $27,000. First Foundation Advisors boosted its stake in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp grew its holdings in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of General Mills during the second quarter worth $38,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GIS shares. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company dropped their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

NYSE GIS opened at $63.21 on Friday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a PEG ratio of 3.25 and a beta of 0.11. The stock has a 50-day simple moving average of $70.67 and a two-hundred day simple moving average of $68.84.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.80%. General Mills’s dividend payout ratio is presently 57.14%.

General Mills Profile

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.