Principal Financial Group Inc. increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 792,993 shares of the company's stock after buying an additional 27,847 shares during the quarter. Principal Financial Group Inc. owned 0.14% of General Mills worth $58,563,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GIS. Norden Group LLC purchased a new stake in shares of General Mills during the first quarter valued at approximately $308,000. Envestnet Portfolio Solutions Inc. grew its stake in General Mills by 47.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company's stock valued at $1,223,000 after acquiring an additional 5,594 shares during the last quarter. Empowered Funds LLC grew its stake in General Mills by 31.8% during the 1st quarter. Empowered Funds LLC now owns 37,319 shares of the company's stock valued at $2,611,000 after purchasing an additional 9,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of General Mills by 12.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 44,141 shares of the company's stock valued at $3,089,000 after acquiring an additional 4,845 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in shares of General Mills by 37.0% in the 1st quarter. Atomi Financial Group Inc. now owns 4,221 shares of the company's stock worth $295,000 after acquiring an additional 1,139 shares during the period. 75.71% of the stock is owned by institutional investors.
General Mills Stock Up 0.9 %
GIS stock traded up $0.58 during trading on Friday, reaching $65.52. The stock had a trading volume of 3,006,051 shares, compared to its average volume of 3,361,745. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a market capitalization of $36.37 billion, a P/E ratio of 15.60, a PEG ratio of 3.39 and a beta of 0.11. The firm has a fifty day moving average price of $71.60 and a 200 day moving average price of $69.07. 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 (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.
General Mills Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given 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 of this dividend was Thursday, October 10th. General Mills's dividend payout ratio (DPR) is presently 57.14%.
Insider Buying and Selling
In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm'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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was 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 directly owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on GIS. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. The Goldman Sachs Group initiated coverage on shares of General Mills in a report 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 research report on Thursday, September 12th. Finally, TD Cowen raised their price objective on General Mills from $72.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $73.00.
Check Out Our Latest Stock Report on General Mills
General Mills Company Profile
(
Free Report)
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.
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