Nwam LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Nwam LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,245 shares of the company’s stock, valued at approximately $240,000.

Other large investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC acquired a new stake in General Mills during the first quarter worth about $456,000. Janus Henderson Group PLC raised its stake in shares of General Mills by 1.3% in the first quarter. Janus Henderson Group PLC now owns 91,230 shares of the company’s stock valued at $6,382,000 after purchasing an additional 1,141 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in General Mills by 21.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the company’s stock worth $1,025,000 after purchasing an additional 2,865 shares during the period. Comerica Bank boosted its stake in General Mills by 5.6% during the first quarter. Comerica Bank now owns 202,303 shares of the company’s stock worth $14,155,000 after buying an additional 10,712 shares in the last quarter. Finally, Beacon Capital Management LLC increased its holdings in General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after buying an additional 180 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Up 0.8 %

Shares of NYSE:GIS opened at $65.53 on Tuesday. The company has a 50 day moving average of $69.46 and a 200-day moving average of $68.59. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 3.38 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.

General Mills (NYSE:GIS) last released its 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 net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. JPMorgan Chase & Co. lifted 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. Finally, Stifel Nicolaus lifted their target price on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.67.

Insiders Place Their Bets

In related news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,555 shares of company stock worth $4,721,336. Insiders own 0.26% of the company’s stock.

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.