Concurrent Investment Advisors LLC Increases Position in General Mills, Inc. (NYSE:GIS)

Concurrent Investment Advisors LLC boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 107.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,473 shares of the company’s stock after purchasing an additional 17,833 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Mills were worth $2,546,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Deseret Mutual Benefit Administrators increased its stake in 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 buying an additional 151 shares in the last quarter. Secure Asset Management LLC increased its position in shares of General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after purchasing an additional 157 shares in the last quarter. LCM Capital Management Inc raised its stake in General Mills by 1.9% in the 2nd 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 last quarter. Ballentine Partners LLC lifted its holdings in General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after purchasing an additional 165 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in General Mills by 0.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after purchasing an additional 172 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GIS shares. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the company 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 research note on Friday, September 20th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Stock Down 1.6 %

General Mills stock opened at $64.93 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a 50 day moving average price of $71.86 and a 200 day moving average price of $69.15. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a market capitalization of $36.05 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.85% and a net margin of 12.14%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.70%. General Mills’s payout ratio is 57.14%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s 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 completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by corporate insiders.

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.