Northcape Wealth Management LLC Makes New $248,000 Investment in General Mills, Inc. (NYSE:GIS)

Northcape Wealth Management LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,239 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Mills by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock worth $734,907,000 after buying an additional 75,902 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of General Mills by 1.7% during the second quarter. Northern Trust Corp now owns 7,662,897 shares of the company’s stock worth $578,165,000 after buying an additional 126,490 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of General Mills by 1.1% during the second quarter. Legal & General Group Plc now owns 5,147,118 shares of the company’s stock worth $388,351,000 after buying an additional 56,421 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of General Mills by 4.3% during the second quarter. UBS Asset Management Americas Inc. now owns 4,739,993 shares of the company’s stock worth $357,632,000 after buying an additional 196,686 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of General Mills by 3.2% during the second quarter. Renaissance Technologies LLC now owns 4,575,588 shares of the company’s stock worth $345,228,000 after buying an additional 143,900 shares in the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.

Insider Activity at General Mills

In related news, insider Shawn P. Ogrady sold 32,114 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.50, for a total value of $2,585,177.00. Following the sale, the insider now directly owns 76,045 shares in the company, valued at $6,121,622.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Mills news, insider Shawn P. Ogrady sold 20,019 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $82.50, for a total value of $1,651,567.50. Following the transaction, the insider now directly owns 69,042 shares of the company’s stock, valued at $5,695,965. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn P. Ogrady sold 32,114 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $80.50, for a total value of $2,585,177.00. Following the completion of the transaction, the insider now directly owns 76,045 shares in the company, valued at $6,121,622.50. The disclosure for this sale can be found here. Insiders have sold 92,139 shares of company stock worth $7,630,104 over the last ninety days. Insiders own 0.67% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $78.36 on Wednesday. The stock has a market cap of $46.20 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.53 and a beta of 0.34. The company has a current ratio of 0.58, a quick ratio of 0.35 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average is $83.39 and its 200-day moving average is $79.43. General Mills, Inc. has a 1-year low of $61.67 and a 1-year high of $88.34.

General Mills (NYSE:GIS – Get Rating) last announced its earnings results on Tuesday, December 20th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.06 by $0.04. General Mills had a return on equity of 24.09% and a net margin of 15.02%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Equities research analysts anticipate that General Mills, Inc. will post 4.12 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, May 1st. Investors of record on Monday, April 10th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, April 6th. General Mills’s payout ratio is presently 45.09%.

Analyst Ratings Changes

GIS has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on General Mills in a report on Tuesday, January 3rd. They set an “equal weight” rating and a $88.00 target price for the company. The Goldman Sachs Group boosted their price target on General Mills from $64.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, October 10th. Royal Bank of Canada boosted their price target on General Mills from $72.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 21st. Mizuho initiated coverage on General Mills in a research note on Wednesday. They issued a “neutral” rating and a $75.00 price target for the company. Finally, Morgan Stanley boosted their price target on General Mills from $71.00 to $73.00 and gave the company an “underweight” rating in a research note on Tuesday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.27.

General Mills Company Profile

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.