Chesapeake Capital Corp IL Takes Position in General Mills, Inc. (NYSE:GIS)

Chesapeake Capital Corp IL purchased a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,450 shares of the company's stock, valued at approximately $772,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new position in shares of General Mills during the 3rd quarter worth about $27,000. First Foundation Advisors increased its stake in shares of General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company's stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Planning Capital Management Corp boosted its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after buying an additional 193 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of General Mills during the 2nd quarter worth about $38,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company's stock worth $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.

Analyst Ratings Changes

GIS has been the subject of several research analyst reports. Barclays lifted their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an "equal weight" rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, September 19th. Stifel Nicolaus increased their price target on General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $72.67.

General Mills Price Performance

GIS stock traded down $1.50 during midday trading on Friday, reaching $63.21. The company had a trading volume of 6,785,130 shares, compared to its average volume of 3,683,144. The firm has a 50-day moving average price of $70.67 and a 200-day moving average price of $68.84. The company has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.25 and a beta of 0.11. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 business 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 earnings per share. The company's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, October 10th. General Mills's payout ratio is currently 57.14%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % 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 worth $4,657,676. 0.26% of the stock is owned by corporate insiders.

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.