General Mills, Inc. (NYSE:GIS) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in General Mills, Inc. (NYSE:GIS) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 80,313 shares of the company’s stock after purchasing an additional 502 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in General Mills were worth $5,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC lifted its position in shares of General Mills by 105.8% during the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after purchasing an additional 74,456 shares in the last quarter. Cardinal Capital Management boosted its position in shares of General Mills by 1.1% during the 3rd quarter. Cardinal Capital Management now owns 116,929 shares of the company’s stock worth $8,635,000 after acquiring an additional 1,306 shares in the last quarter. Good Life Advisors LLC grew its holdings in shares of General Mills by 132.8% during the third quarter. Good Life Advisors LLC now owns 11,044 shares of the company’s stock worth $816,000 after purchasing an additional 6,299 shares during the last quarter. Carl Stuart Investment Advisor Inc. purchased a new position in shares of General Mills during the third quarter worth approximately $215,000. Finally, Mezzasalma Advisors LLC acquired a new position in General Mills in the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 1.1 %

GIS opened at $69.93 on Friday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business has a 50 day moving average of $72.36 and a 200-day moving average of $69.21. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 3.71 and a beta of 0.10. 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 (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) 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 analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.43%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Bank of America increased their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Evercore ISI reduced their price target 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.00.

Insiders Place Their Bets

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. 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 through this hyperlink. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction dated 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 directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is currently owned by company insiders.

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.