General Mills, Inc. (NYSE:GIS) Shares Bought by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,142 shares of the company’s stock after acquiring an additional 3,178 shares during the quarter. Pathstone Holdings LLC’s holdings in General Mills were worth $5,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter worth $27,000. First Foundation Advisors raised its holdings in shares of General Mills by 400.0% in the 2nd 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. Planning Capital Management Corp lifted its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in General Mills in the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC grew 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 buying an additional 180 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $65.00 on Friday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The business’s 50-day moving average price is $69.64 and its two-hundred day moving average price is $68.63. 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 company has a market capitalization of $36.09 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.26 and a beta of 0.11.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Insider Buying and Selling at General Mills

In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $173,514.75. Following the completion of the sale, 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 three months. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GIS. Bank of America lifted their target price on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays boosted their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. TD Cowen raised their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group initiated coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average target price of $72.67.

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.