Farmers & Merchants Investments Inc. Grows Stake in General Mills, Inc. (NYSE:GIS)

Farmers & Merchants Investments Inc. boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,289 shares of the company’s stock after buying an additional 524 shares during the period. Farmers & Merchants Investments Inc.’s holdings in General Mills were worth $5,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Arkadios Wealth Advisors boosted its position in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. iA Global Asset Management Inc. increased its holdings in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after purchasing an additional 23,411 shares during the period. Finally, DNB Asset Management AS increased its holdings in shares of General Mills by 10.5% in the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after purchasing an additional 11,334 shares during the period. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 8,083 shares of General Mills 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 transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock valued at $4,657,676. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. The Goldman Sachs Group assumed 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. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. One research 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.com, General Mills has an average rating of “Hold” and a consensus price target of $73.00.

General Mills Trading Up 0.2 %

Shares of GIS stock traded up $0.15 on Tuesday, hitting $68.42. The stock had a trading volume of 312,415 shares, compared to its average volume of 3,869,143. 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, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market capitalization of $38.19 billion, a P/E ratio of 15.84, a P/E/G ratio of 3.55 and a beta of 0.10. The company’s 50 day moving average price is $72.28 and its 200-day moving average price is $69.18.

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, 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 the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued 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 yield of 3.51%. General Mills’s dividend payout ratio is presently 55.68%.

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.