General Mills, Inc. (NYSE:GIS) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 913,326 shares of the company’s stock after buying an additional 119,955 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.16% of General Mills worth $67,854,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GIS. North Star Investment Management Corp. boosted its stake in General Mills by 0.8% during the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after buying an additional 145 shares during the period. Deseret Mutual Benefit Administrators boosted its position 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 purchasing an additional 151 shares during the period. Park Place Capital Corp increased its holdings in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the last quarter. Secure Asset Management LLC raised its position in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the period. Finally, LCM Capital Management Inc raised its position in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 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 equities research analysts have recently weighed in on GIS shares. TD Cowen lifted their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Stifel Nicolaus raised their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Mizuho dropped their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.00.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’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 transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on 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 of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. Corporate insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.5 %

NYSE:GIS opened at $68.30 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The stock has a market cap of $38.12 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.55 and a beta of 0.10. The stock has a 50-day simple moving average of $72.31 and a 200-day simple moving average of $69.17.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

General Mills 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.