IFM Investors Pty Ltd Raises Stake in General Mills, Inc. (NYSE:GIS)

IFM Investors Pty Ltd grew its holdings in General Mills, Inc. (NYSE:GIS) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 114,390 shares of the company’s stock after buying an additional 1,142 shares during the period. IFM Investors Pty Ltd’s holdings in General Mills were worth $8,448,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Arkadios Wealth Advisors grew its stake in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares in the last quarter. iA Global Asset Management Inc. increased its stake in shares of General Mills by 92.5% during the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after acquiring an additional 23,411 shares during the period. Finally, DNB Asset Management AS raised its holdings in General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after purchasing an additional 11,334 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on 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 owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was 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 in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock valued at $4,657,676 in the last ninety days. Insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.5 %

Shares of GIS opened at $68.30 on Friday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a 50 day simple moving average of $72.33 and a 200-day simple moving average of $69.19. The stock has a market cap of $38.12 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings results 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. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.09 earnings per share. General Mills’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on GIS. Barclays boosted their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Piper Sandler raised their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company upped their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.00.

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.