SG Americas Securities LLC Purchases 149,367 Shares of General Mills, Inc. (NYSE:GIS)

SG Americas Securities LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 142.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,510 shares of the company’s stock after purchasing an additional 149,367 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $18,796,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after acquiring an additional 148,235 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of General Mills by 7.4% in the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after acquiring an additional 369,628 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of recent research reports. 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 boosted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Mizuho reduced their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.73.

Insider Buying and Selling

In related 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 value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at $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. 0.24% of the stock is currently owned by company insiders.

General Mills Stock Up 0.8 %

Shares of GIS stock traded up $0.57 during midday trading on Friday, reaching $73.61. 2,413,553 shares of the stock were exchanged, compared to its average volume of 3,961,171. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90. The company’s 50 day moving average is $71.74 and its two-hundred day moving average is $69.08. 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 firm has a market cap of $41.09 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. General Mills’s payout ratio is currently 55.68%.

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.