NorthCrest Asset Manangement LLC Boosts Stock Position in General Mills, Inc. (NYSE:GIS)

NorthCrest Asset Manangement LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,645 shares of the company’s stock after acquiring an additional 4,160 shares during the period. NorthCrest Asset Manangement LLC’s holdings in General Mills were worth $15,335,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GIS. Values First Advisors Inc. purchased a new stake in shares of General Mills during the third quarter worth $27,000. Capital Advisors Ltd. LLC boosted its stake in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the period. RFP Financial Group LLC boosted its stake in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. First Foundation Advisors boosted its stake in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the period. Finally, Park Place Capital Corp boosted its stake in General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. 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, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

General Mills Stock Down 0.5 %

Shares of GIS stock traded down $0.31 during midday trading on Friday, reaching $68.30. 2,183,941 shares of the stock were exchanged, compared to its average volume of 3,890,381. 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 company’s 50 day moving average is $72.33 and its two-hundred day moving average is $69.19. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market cap of $38.12 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on GIS. Wells Fargo & Company lifted their price objective on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Mizuho dropped their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus lifted their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.