Good Life Advisors LLC Raises Holdings in General Mills, Inc. (NYSE:GIS)

Good Life Advisors LLC increased its holdings in General Mills, Inc. (NYSE:GIS) by 132.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,044 shares of the company’s stock after buying an additional 6,299 shares during the period. Good Life Advisors LLC’s holdings in General Mills were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GIS. Rise Advisors LLC boosted its holdings in shares of General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. RFP Financial Group LLC grew its holdings in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Perkins Coie Trust Co increased its position in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 1.0 %

Shares of NYSE:GIS opened at $69.94 on Friday. 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, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The business has a 50 day moving average of $72.36 and a two-hundred day moving average of $69.22. The company has a market capitalization of $39.04 billion, a PE ratio of 16.23, a PEG ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the business posted $1.09 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts forecast that General Mills, Inc. will post 4.51 EPS for the current 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 given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.43%. General Mills’s dividend payout ratio is currently 55.68%.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’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 value of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,055 shares of company stock valued at $1,467,311. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GIS shares. Bank of America boosted their target price on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Mizuho cut their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus lifted their price objective on shares of 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 assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.00.

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.