Calton & Associates Inc. Takes $240,000 Position in General Mills, Inc. (NYSE:GIS)

Calton & Associates Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,245 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its holdings in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the last quarter. RFP Financial Group LLC boosted its holdings in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in General Mills by 65.5% during the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. First Foundation Advisors boosted its holdings in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in General Mills during the first quarter worth $35,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $69.09 on Wednesday. The business has a fifty day simple moving average of $72.37 and a 200 day simple moving average of $69.20. The company has a market capitalization of $38.56 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) 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 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Research analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company 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 of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.47%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Activity

In other news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. 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. In other news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. 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 Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Barclays increased their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, Evercore ISI decreased their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. One investment 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. According to MarketBeat.com, General Mills 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.