Ashton Thomas Securities LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Ashton Thomas Securities LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 687 shares of the company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of General Mills during the third quarter worth about $27,000. RFP Financial Group LLC increased 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 valued at $30,000 after buying an additional 173 shares during the last quarter. First Foundation Advisors lifted its holdings in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of General Mills in the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC increased its holdings in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. 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 the SEC website. Also, 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 completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock worth $4,657,676 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

GIS opened at $65.24 on Thursday. The business has a 50 day moving average price of $71.27 and a two-hundred day moving average price of $68.96. 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 capitalization of $36.22 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.11. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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. The business had revenue of $4.85 billion during 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 in the prior year, the firm posted $1.09 earnings per share. Research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.68%. General Mills’s dividend payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. 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. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Citigroup upped their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.