Ieq Capital LLC Increases Stake in General Mills, Inc. (NYSE:GIS)

Ieq Capital LLC boosted its stake in shares of General Mills, Inc. (NYSE:GISGet Rating) by 81.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,465 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Ieq Capital LLC’s holdings in General Mills were worth $1,185,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. First Republic Investment Management Inc. raised its position in General Mills by 9.1% during the third quarter. First Republic Investment Management Inc. now owns 161,712 shares of the company’s stock valued at $12,389,000 after acquiring an additional 13,491 shares in the last quarter. Eudaimonia Partners LLC increased its position in shares of General Mills by 11.2% in the third quarter. Eudaimonia Partners LLC now owns 31,320 shares of the company’s stock valued at $2,399,000 after buying an additional 3,149 shares in the last quarter. Selway Asset Management purchased a new stake in shares of General Mills in the third quarter valued at approximately $31,000. CIBC Asset Management Inc increased its position in shares of General Mills by 6.2% in the third quarter. CIBC Asset Management Inc now owns 106,957 shares of the company’s stock valued at $8,194,000 after buying an additional 6,210 shares in the last quarter. Finally, Creative Planning increased its position in shares of General Mills by 1.9% in the third quarter. Creative Planning now owns 101,508 shares of the company’s stock valued at $7,777,000 after buying an additional 1,918 shares in the last quarter. 74.48% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE GIS opened at $77.01 on Wednesday. The stock’s fifty day moving average is $83.69 and its two-hundred day moving average is $79.35. The firm has a market capitalization of $45.41 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 2.50 and a beta of 0.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.35 and a current ratio of 0.58. General Mills, Inc. has a fifty-two week low of $61.67 and a fifty-two week high of $88.34.

General Mills (NYSE:GISGet Rating) last released its quarterly earnings data on Tuesday, December 20th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. General Mills had a return on equity of 24.09% and a net margin of 15.02%. On average, research analysts anticipate that General Mills, Inc. will post 4.12 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a $0.54 dividend. The ex-dividend date of this dividend is Monday, January 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.80%. General Mills’s dividend payout ratio is currently 45.09%.

Analyst Ratings Changes

A number of research firms have recently commented on GIS. Wells Fargo & Company began coverage on General Mills in a research report on Tuesday, January 3rd. They issued an “equal weight” rating and a $88.00 price objective for the company. UBS Group cut their price objective on General Mills from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, December 21st. Morgan Stanley boosted their price objective on General Mills from $71.00 to $73.00 and gave the company an “underweight” rating in a research report on Tuesday, December 20th. Piper Sandler lifted their price target on General Mills from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. Finally, Royal Bank of Canada lifted their price target on General Mills from $72.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.57.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,894 shares of General Mills stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $84.49, for a total value of $920,434.06. Following the sale, the insider now owns 82,784 shares in the company, valued at $6,994,420.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, insider Jonathon Nudi sold 10,894 shares of General Mills stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $84.49, for a total value of $920,434.06. Following the sale, the insider now owns 82,784 shares in the company, valued at $6,994,420.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark A. Pallot sold 1,955 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $85.99, for a total value of $168,110.45. Following the completion of the sale, the chief accounting officer now owns 17,146 shares in the company, valued at approximately $1,474,384.54. The disclosure for this sale can be found here. Insiders have sold 109,829 shares of company stock worth $9,076,630 over the last quarter. 0.67% of the stock is currently owned by company insiders.

General Mills Profile

(Get Rating)

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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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

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