SPC Financial Inc. Purchases 901 Shares of General Mills, Inc. (NYSE:GIS)

SPC Financial Inc. grew its position in General Mills, Inc. (NYSE:GIS) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,689 shares of the company’s stock after buying an additional 901 shares during the quarter. SPC Financial Inc.’s holdings in General Mills were worth $937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LaFleur & Godfrey LLC purchased a new stake in General Mills in the third quarter worth about $203,000. Sumitomo Life Insurance Co. raised its holdings in shares of General Mills by 3.1% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 12,365 shares of the company’s stock valued at $913,000 after purchasing an additional 371 shares in the last quarter. Ullmann Wealth Partners Group LLC purchased a new stake in shares of General Mills in the 3rd quarter worth approximately $221,000. Swedbank AB boosted its stake in shares of General Mills by 5.1% during the third quarter. Swedbank AB now owns 543,580 shares of the company’s stock valued at $40,143,000 after purchasing an additional 26,453 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of General Mills by 2.8% during the third quarter. NBC Securities Inc. now owns 21,088 shares of the company’s stock valued at $1,557,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GIS shares. JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday. TD Cowen boosted their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Stifel Nicolaus boosted their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.3 %

NYSE GIS opened at $71.00 on Thursday. 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 company has a market capitalization of $39.63 billion, a PE ratio of 16.47, a P/E/G ratio of 3.71 and a beta of 0.10. The company has a fifty day moving average of $72.31 and a 200 day moving average of $69.21.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.38%. General Mills’s payout ratio is 55.68%.

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.