General Mills, Inc. (NYSE:GIS) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in General Mills, Inc. (NYSE:GIS) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,390 shares of the company’s stock after acquiring an additional 1,142 shares during the quarter. IFM Investors Pty Ltd’s holdings in General Mills were worth $8,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GIS. Wealthcare Advisory Partners LLC acquired a new position in General Mills in the 1st quarter valued at about $386,000. Wealth Enhancement Advisory Services LLC increased its stake in General Mills by 2.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 185,581 shares of the company’s stock worth $12,985,000 after acquiring an additional 4,480 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in General Mills during the first quarter worth $97,000. Kathmere Capital Management LLC lifted its stake in shares of General Mills by 93.2% in the 1st quarter. Kathmere Capital Management LLC now owns 11,125 shares of the company’s stock valued at $778,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its holdings in shares of General Mills by 35.9% during the 1st quarter. Griffin Asset Management Inc. now owns 9,559 shares of the company’s stock worth $669,000 after purchasing an additional 2,524 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 0.5 %

Shares of NYSE:GIS opened at $68.30 on Friday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The firm’s 50 day moving average price is $72.33 and its 200 day moving average price is $69.19. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market cap of $38.12 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business 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 company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. General Mills’s dividend payout ratio is currently 55.68%.

Insider Activity

In related 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 transaction of $717,640.33. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GIS. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Wells Fargo & Company increased their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Evercore ISI cut their target price on 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. The Goldman Sachs Group initiated coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.