Sumitomo Mitsui Trust Group Inc. grew its position in General Mills, Inc. (NYSE:GIS - Free Report) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,594,383 shares of the company's stock after acquiring an additional 8,345 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of General Mills worth $117,745,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in General Mills in the third quarter worth about $27,000. RFP Financial Group LLC increased its stake in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company's stock valued at $30,000 after acquiring an additional 173 shares during the period. First Foundation Advisors raised its holdings in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company's stock worth $32,000 after purchasing an additional 400 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in General Mills in the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC lifted its position in General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company's stock worth $39,000 after purchasing an additional 180 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GIS. TD Cowen boosted their price objective on General Mills from $72.00 to $75.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. 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 assumed coverage on shares of General Mills in a report on Monday, August 12th. They issued a "buy" rating and a $76.00 target price on the stock. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of "Hold" and an average price target of $73.00.
View Our Latest Research Report on GIS
Insider Buying and Selling
In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,555 shares of company stock valued at $4,657,676. Company insiders own 0.26% of the company's stock.
General Mills Stock Down 0.3 %
Shares of GIS traded down $0.22 during midday trading on Thursday, reaching $65.01. 895,591 shares of the stock were exchanged, compared to its average volume of 3,880,113. The firm has a 50 day simple moving average of $71.10 and a 200-day simple moving average of $68.93. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 3.30 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.
General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 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 analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $1.09 EPS. General Mills's quarterly revenue was down 1.2% on a year-over-year basis. Research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.
General Mills Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Thursday, October 10th. General Mills's dividend payout ratio is 57.14%.
General Mills Company Profile
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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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