General Mills, Inc. (NYSE:GIS) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its stake in General Mills, Inc. (NYSE:GIS) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,234 shares of the company’s stock after purchasing an additional 1,821 shares during the period. Brookstone Capital Management’s holdings in General Mills were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reliant Investment Management LLC acquired a new stake in General Mills during the 3rd quarter worth $207,000. Atomi Financial Group Inc. increased its position in shares of General Mills by 18.7% during the third quarter. Atomi Financial Group Inc. now owns 5,898 shares of the company’s stock worth $436,000 after purchasing an additional 931 shares in the last quarter. Lbmc Investment Advisors LLC purchased a new stake in shares of General Mills in the 3rd quarter valued at about $212,000. Exeter Financial LLC boosted its position in shares of General Mills by 1.6% in the 3rd quarter. Exeter Financial LLC now owns 31,366 shares of the company’s stock valued at $2,316,000 after purchasing an additional 490 shares during the period. Finally, Stonebridge Capital Management Inc. purchased a new position in General Mills during the 3rd quarter worth approximately $225,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $70.81 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $75.90. The firm’s fifty day simple moving average is $72.15 and its 200-day simple moving average is $69.19. The stock has a market cap of $39.52 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last issued 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The shares were 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 owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GIS shares. Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Evercore ISI lowered their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Mizuho reduced their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group initiated 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. Finally, Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.73.

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.