King Luther Capital Management Corp Boosts Stake in General Mills, Inc. (NYSE:GIS)

King Luther Capital Management Corp boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 126,509 shares of the company’s stock after purchasing an additional 374 shares during the period. King Luther Capital Management Corp’s holdings in General Mills were worth $9,343,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares during the period. Dimensional Fund Advisors LP grew its position in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares during the last quarter. American Century Companies Inc. raised its position in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in General Mills by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,560,066 shares of the company’s stock valued at $225,210,000 after buying an additional 76,074 shares in the last quarter. Finally, abrdn plc grew its holdings in General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Piper Sandler boosted their price objective 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. Citigroup raised their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Barclays increased their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Stifel Nicolaus lifted their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

GIS stock opened at $64.08 on Friday. The firm has a market cap of $35.57 billion, a P/E ratio of 15.26, a P/E/G ratio of 3.26 and a beta of 0.11. The stock’s 50 day simple moving average is $69.82 and its 200 day simple moving average is $68.66. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock worth $4,721,336 in the last three months. 0.26% of the stock is owned by insiders.

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.