Capital Advisors Inc. OK boosted its stake in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 416,669 shares of the company’s stock after purchasing an additional 18,320 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.07% of General Mills worth $31,438,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its position in shares of General Mills by 17.0% in the first quarter. IFM Investors Pty Ltd now owns 90,359 shares of the company’s stock worth $6,119,000 after purchasing an additional 13,104 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in General Mills by 6.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 178,327 shares of the company’s stock valued at $12,076,000 after acquiring an additional 10,664 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of General Mills by 9.9% during the first quarter. Checchi Capital Advisers LLC now owns 5,681 shares of the company’s stock worth $385,000 after acquiring an additional 514 shares during the last quarter. Carmignac Gestion acquired a new position in General Mills in the first quarter valued at approximately $597,000. Finally, Bison Wealth LLC boosted its holdings in General Mills by 3.1% during the first quarter. Bison Wealth LLC now owns 13,263 shares of the company’s stock worth $898,000 after buying an additional 402 shares during the last quarter. 75.48% of the stock is owned by institutional investors.
In other General Mills news, CEO Jeffrey L. Harmening sold 37,895 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $80.00, for a total value of $3,031,600.00. Following the sale, the chief executive officer now directly owns 279,482 shares of the company’s stock, valued at $22,358,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Mills news, insider Jodi J. Benson sold 15,685 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares of the company’s stock, valued at $2,865,896.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 37,895 shares of General Mills stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $80.00, for a total value of $3,031,600.00. Following the completion of the sale, the chief executive officer now directly owns 279,482 shares in the company, valued at $22,358,560. The disclosure for this sale can be found here. Insiders have sold 96,317 shares of company stock worth $7,429,156 in the last ninety days. Company insiders own 0.67% of the company’s stock.
General Mills Stock Down 2.1 %
General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.72 billion. General Mills had a net margin of 15.13% and a return on equity of 23.87%. General Mills’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, equities analysts forecast that General Mills, Inc. will post 4.06 earnings per share for the current fiscal year.
General Mills Announces Dividend
The company also recently announced a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, July 7th. General Mills’s payout ratio is currently 45.47%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Mills from $81.00 to $88.00 in a research report on Thursday. Bank of America upped their price objective on General Mills from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their price target on General Mills from $66.00 to $71.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank of Canada boosted their price target on shares of General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, July 1st. Finally, UBS Group increased their price objective on shares of General Mills from $79.00 to $82.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.83.
General Mills Profile
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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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