Vinva Investment Management Ltd Raises Stock Position in General Mills, Inc. (NYSE:GIS)

Vinva Investment Management Ltd grew its holdings in General Mills, Inc. (NYSE:GIS) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,024 shares of the company’s stock after acquiring an additional 495 shares during the period. Vinva Investment Management Ltd’s holdings in General Mills were worth $1,787,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Mesirow Financial Investment Management Inc. raised its stake in shares of General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after acquiring an additional 151 shares during the period. Secure Asset Management LLC raised its stake in shares of General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. LCM Capital Management Inc raised its stake in shares of 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 acquiring an additional 157 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of 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 acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.1 %

General Mills stock opened at $66.28 on Friday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $36.80 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 3.44 and a beta of 0.11. The firm has a 50-day moving average price of $68.78 and a two-hundred day moving average price of $68.49.

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

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.62%. General Mills’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GIS. Citigroup lifted their price target on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Wells Fargo & Company dropped their price target on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. 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 stock has an average rating of “Hold” and an average price target of $72.67.

General Mills Company 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.