Creative Planning raised its holdings in General Mills, Inc. (NYSE:GIS) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,751 shares of the company’s stock after acquiring an additional 3,307 shares during the quarter. Creative Planning’s holdings in General Mills were worth $5,333,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in GIS. Krane Funds Advisors LLC bought a new position in shares of General Mills during the 2nd quarter worth $25,000. Ellevest Inc. bought a new position in shares of General Mills during the 2nd quarter worth $28,000. Capital International Ltd. CA bought a new position in shares of General Mills during the 2nd quarter worth $30,000. Employers Holdings Inc. bought a new position in shares of General Mills during the 2nd quarter worth $32,000. Finally, NuWave Investment Management LLC grew its position in shares of General Mills by 377.4% during the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after buying an additional 502 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.
In other news, insider Jonathon Nudi sold 18,951 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the completion of the transaction, the insider now directly owns 81,656 shares of the company’s stock, valued at approximately $4,451,885.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now directly owns 35,487 shares of the company’s stock, valued at $1,928,008.71. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Shares of GIS stock traded up $0.26 on Friday, hitting $52.24. The stock had a trading volume of 674,438 shares, compared to its average volume of 3,293,292. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37. The firm has a market capitalization of $31.18 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.19 and a beta of 0.71. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $56.40. The company’s 50 day moving average price is $52.98 and its 200-day moving average price is $52.93.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities analysts forecast that General Mills, Inc. will post 3.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.75%. General Mills’s dividend payout ratio is currently 60.87%.
A number of research firms have recently issued reports on GIS. Morgan Stanley increased their price target on General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. ValuEngine downgraded General Mills from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their price objective on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research report on Thursday, September 19th. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada started coverage on General Mills in a research report on Thursday, October 17th. They set a “sector perform” rating and a $57.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.82.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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