54,400 Shares in General Mills, Inc. (NYSE:GIS) Acquired by Hamel Associates Inc.

Hamel Associates Inc. bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 54,400 shares of the company's stock, valued at approximately $4,017,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. increased its position in General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company's stock worth $999,000 after purchasing an additional 148 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company's stock worth $206,000 after acquiring an additional 151 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company's stock worth $209,000 after acquiring an additional 157 shares in the last quarter. LCM Capital Management Inc lifted its stake in General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company's stock valued at $539,000 after buying an additional 157 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company's stock valued at $1,097,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Insider Buying and Selling at General Mills

In other General Mills news, 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business's stock in a transaction dated Friday, September 20th. The shares were 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 approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company's stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 over the last ninety days. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GIS. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a "hold" rating in a report on Friday, September 20th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Wells Fargo & Company upped their price objective on General Mills from $67.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, September 13th. Finally, Citigroup upped their price objective on General Mills from $68.00 to $76.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $73.00.

General Mills Stock Performance

GIS traded up $0.97 during trading on Wednesday, hitting $65.23. The stock had a trading volume of 3,177,199 shares, compared to its average volume of 3,893,425. The company has a 50 day simple moving average of $71.27 and a 200-day simple moving average of $68.96. 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 has a market cap of $36.21 billion, a PE ratio of 15.49, a P/E/G ratio of 3.30 and a beta of 0.11.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business's revenue was down 1.2% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.68%. General Mills's dividend payout ratio (DPR) is currently 57.14%.

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.