Greenleaf Trust Boosts Stock Position in General Mills, Inc. (NYSE:GIS)

Greenleaf Trust raised its position in General Mills, Inc. (NYSE:GIS) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 21,415 shares of the company’s stock after buying an additional 667 shares during the period. Greenleaf Trust’s holdings in General Mills were worth $1,581,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GIS. Commerzbank Aktiengesellschaft FI acquired a new position in shares of General Mills in the third quarter valued at approximately $262,000. Meadow Creek Wealth Advisors LLC lifted its stake in shares of General Mills by 8.3% during the 3rd quarter. Meadow Creek Wealth Advisors LLC now owns 3,762 shares of the company’s stock worth $278,000 after purchasing an additional 289 shares during the period. Lecap Asset Management Ltd. boosted its holdings in shares of General Mills by 21.7% during the third quarter. Lecap Asset Management Ltd. now owns 11,841 shares of the company’s stock worth $874,000 after purchasing an additional 2,115 shares during the last quarter. Tempus Wealth Planning LLC grew its position in shares of General Mills by 8.3% in the third quarter. Tempus Wealth Planning LLC now owns 3,720 shares of the company’s stock valued at $275,000 after purchasing an additional 285 shares during the period. Finally, Waldron Private Wealth LLC acquired a new position in General Mills in the third quarter valued at $746,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,055 shares of company stock valued at $1,467,311 over the last quarter. Insiders own 0.24% of the company’s stock.

General Mills Stock Performance

General Mills stock opened at $68.58 on Thursday. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a market cap of $38.28 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The stock has a 50 day moving average of $72.33 and a 200-day moving average of $69.19.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping 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 business 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 posted $1.09 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts expect 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. Stockholders of record on Thursday, October 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.50%. General Mills’s payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Evercore ISI lowered their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Finally, Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $73.00.

About General Mills

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.