Cerity Partners LLC Purchases 22,337 Shares of General Mills, Inc. (NYSE:GIS)

Cerity Partners LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 9.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 261,461 shares of the company’s stock after acquiring an additional 22,337 shares during the period. Cerity Partners LLC’s holdings in General Mills were worth $19,309,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. increased its holdings in shares of General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after purchasing an additional 151 shares in the last quarter. Secure Asset Management LLC raised its stake in shares of General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. LCM Capital Management Inc raised its stake in General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after acquiring an additional 157 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of General Mills by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after purchasing an additional 165 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by company insiders.

General Mills Price Performance

NYSE:GIS opened at $65.00 on Monday. The stock has a 50 day moving average price of $69.64 and a 200 day moving average price of $68.62. The stock has a market cap of $36.09 billion, a PE ratio of 15.48, a P/E/G ratio of 3.33 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90.

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

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.69%. General Mills’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GIS shares. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Citigroup increased their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler lifted their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.67.

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.