Everett Harris & Co. CA Increases Stake in General Mills, Inc. (NYSE:GIS)

Everett Harris & Co. CA grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,342 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Everett Harris & Co. CA’s holdings in General Mills were worth $395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GIS. First Bancorp Inc ME purchased a new stake in General Mills during the 3rd quarter valued at $226,000. First Citizens Bank & Trust Co. boosted its holdings in shares of General Mills by 11.9% during the third quarter. First Citizens Bank & Trust Co. now owns 5,866 shares of the company’s stock worth $433,000 after purchasing an additional 625 shares during the period. Capital Investment Advisors LLC grew its stake in shares of General Mills by 1.4% in the third quarter. Capital Investment Advisors LLC now owns 20,646 shares of the company’s stock worth $1,525,000 after purchasing an additional 286 shares during the last quarter. Blue Trust Inc. increased its holdings in General Mills by 134.7% during the 3rd quarter. Blue Trust Inc. now owns 19,894 shares of the company’s stock valued at $1,469,000 after purchasing an additional 11,418 shares during the period. Finally, West Oak Capital LLC raised its position in General Mills by 8.4% during the 3rd quarter. West Oak Capital LLC now owns 29,395 shares of the company’s stock valued at $2,171,000 after purchasing an additional 2,290 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 1.1 %

General Mills stock opened at $69.93 on Friday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The business’s fifty day simple moving average is $72.36 and its two-hundred day simple moving average is $69.21. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

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, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Insider Buying and Selling

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s 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 sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,055 shares of company stock worth $1,467,311 in the last three months. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIS shares. Barclays boosted their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Evercore ISI cut their target price on shares of 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. TD Cowen increased their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Citigroup lifted their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $73.00.

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.