Segall Bryant & Hamill LLC Makes New $3.55 Million Investment in General Mills, Inc. (NYSE:GIS)

Segall Bryant & Hamill LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the third quarter, Holdings Channel.com reports. The firm purchased 48,056 shares of the company’s stock, valued at approximately $3,549,000.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in General Mills during the 3rd quarter valued at $54,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in General Mills during the third quarter valued at $5,234,000. Prospera Financial Services Inc raised its position in General Mills by 5.3% during the third quarter. Prospera Financial Services Inc now owns 8,414 shares of the company’s stock valued at $622,000 after buying an additional 427 shares during the period. Caprock Group LLC lifted its stake in General Mills by 7.3% in the 3rd quarter. Caprock Group LLC now owns 29,000 shares of the company’s stock worth $2,142,000 after acquiring an additional 1,964 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its position in General Mills by 4.7% during the 3rd quarter. Pathstone Holdings LLC now owns 71,142 shares of the company’s stock worth $5,254,000 after acquiring an additional 3,178 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on 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 in the company, valued at $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock valued at $4,721,336 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on GIS shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Wells Fargo & Company decreased their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Stifel Nicolaus raised their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.67.

General Mills Stock Up 1.4 %

General Mills stock opened at $65.00 on Friday. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 3.26 and a beta of 0.11. The firm has a fifty day moving average price of $69.64 and a two-hundred day moving average price of $68.63. 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 current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last released its 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. As a group, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is currently 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.