CRA Financial Services LLC Takes $232,000 Position in General Mills, Inc. (NYSE:GIS)

CRA Financial Services LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,141 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares during the last quarter. American Century Companies Inc. increased its position in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. raised its stake in General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after purchasing an additional 930,271 shares during the last quarter. Finally, Swedbank AB purchased a new position in General Mills in the 1st quarter valued at $36,177,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $70.81 on Friday. The stock’s 50-day moving average is $72.15 and its two-hundred day moving average is $69.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The company has a market cap of $39.52 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.01 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Insider Transactions 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 owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho dropped their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI decreased their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.73.

General Mills Company 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.