New England Asset Management Inc. Acquires 1,045 Shares of General Mills, Inc. (NYSE:GIS)

New England Asset Management Inc. increased its stake in General Mills, Inc. (NYSE:GIS) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,020 shares of the company’s stock after purchasing an additional 1,045 shares during the period. New England Asset Management Inc.’s holdings in General Mills were worth $2,660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GIS. Values First Advisors Inc. bought a new position in shares of General Mills in the 3rd quarter worth $27,000. First Foundation Advisors grew its position in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp increased its stake in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the last quarter. Beacon Capital Management LLC raised its position in General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in General Mills during the third quarter worth about $44,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.5 %

NYSE GIS opened at $62.88 on Tuesday. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The stock has a market capitalization of $34.91 billion, a PE ratio of 14.97, a PEG ratio of 3.25 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The business’s 50-day moving average is $70.42 and its 200 day moving average is $68.78.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. Sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.82%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’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 sale, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated 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 transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,555 shares of company stock valued at $4,657,676. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GIS. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Barclays lifted their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Bank of America upped their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus upped their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price 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.