Portfolio Design Labs LLC Invests $2.25 Million in General Mills, Inc. (NYSE:GIS)

Portfolio Design Labs LLC bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,412 shares of the company's stock, valued at approximately $2,246,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors raised its holdings in shares of General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company's stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. American Century Companies Inc. raised its holdings in shares of General Mills by 100.4% during the second 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 stake in shares of General Mills during the first quarter worth $36,177,000. Finally, International Assets Investment Management LLC raised its holdings in shares of General Mills by 6,114.0% during 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 during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Up 1.6 %

GIS stock traded up $1.02 during mid-day trading on Wednesday, reaching $63.80. 4,684,690 shares of the stock traded hands, compared to its average volume of 3,908,723. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a market cap of $35.42 billion, a P/E ratio of 14.95, a P/E/G ratio of 3.25 and a beta of 0.11. The stock's fifty day moving average is $70.18 and its 200-day moving average is $68.73.

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

General Mills Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.76%. General Mills's dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company's stock, valued at $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. Insiders have sold a total of 67,555 shares of company stock worth $4,721,336 over the last 90 days. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GIS shares. Stifel Nicolaus upped their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Piper Sandler increased 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. Finally, Barclays increased their target price on shares of General Mills from $67.00 to $74.00 and gave the company an "equal weight" rating in a research report on Friday, September 20th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $72.67.

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.