Great Valley Advisor Group Inc. Increases Stock Position in General Mills, Inc. (NYSE:GIS)

Great Valley Advisor Group Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 517.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 51,096 shares of the company’s stock after acquiring an additional 42,819 shares during the period. Great Valley Advisor Group Inc.’s holdings in General Mills were worth $3,774,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GIS. American Century Companies Inc. lifted its stake in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the period. Wulff Hansen & CO. raised its holdings in shares of General Mills by 6,140.4% during the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the period. Swedbank AB acquired a new position in shares of General Mills during the first quarter valued at $36,177,000. International Assets Investment Management LLC grew its stake in shares of General Mills by 6,114.0% in the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after purchasing an additional 443,202 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new stake in General Mills during the first quarter worth approximately $29,199,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on GIS. Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Bank of America boosted their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.67.

Insiders Place Their Bets

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the business’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 sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock valued at $4,721,336 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

Shares of GIS opened at $65.00 on Friday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. 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 firm’s fifty day simple moving average is $69.64 and its two-hundred day simple moving average is $68.63. The stock has a market capitalization of $36.09 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.33 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.69%. General Mills’s dividend payout ratio (DPR) is 57.14%.

General Mills Company 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.