Means Investment CO. Inc. Makes New $202,000 Investment in General Mills, Inc. (NYSE:GIS)

Means Investment CO. Inc. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,737 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GIS. Seamount Financial Group Inc. boosted its holdings in General Mills by 12.4% in the third quarter. Seamount Financial Group Inc. now owns 7,130 shares of the company’s stock valued at $527,000 after purchasing an additional 785 shares during the period. Everett Harris & Co. CA boosted its stake in shares of General Mills by 8.1% in the 3rd quarter. Everett Harris & Co. CA now owns 5,342 shares of the company’s stock valued at $395,000 after buying an additional 400 shares during the period. First Bancorp Inc ME acquired a new position in shares of General Mills during the third quarter worth about $226,000. First Citizens Bank & Trust Co. increased its stake in shares of General Mills by 11.9% during the third quarter. First Citizens Bank & Trust Co. now owns 5,866 shares of the company’s stock worth $433,000 after buying an additional 625 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in General Mills by 1.4% in the third quarter. Capital Investment Advisors LLC now owns 20,646 shares of the company’s stock valued at $1,525,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $69.93 on Monday. 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 $39.03 billion, a P/E ratio of 16.23, a P/E/G ratio of 3.71 and a beta of 0.10. The stock has a 50 day moving average of $72.36 and a two-hundred day moving average of $69.21. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm posted $1.09 EPS. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts forecast that General Mills, Inc. will post 4.51 earnings per share 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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.43%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the business’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 owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 9,647 shares of the business’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 owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,055 shares of company stock valued at $1,467,311 in the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GIS. Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Barclays upped their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $73.00.

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.