Howard Capital Management Inc. Acquires 534 Shares of General Mills, Inc. $GIS

Howard Capital Management Inc. increased its holdings in General Mills, Inc. (NYSE:GIS) by 15.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,928 shares of the company’s stock after buying an additional 534 shares during the period. Howard Capital Management Inc.’s holdings in General Mills were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GIS. Charles Schwab Investment Management Inc. raised its stake in General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after buying an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in General Mills in the first quarter worth approximately $279,570,000. Pacer Advisors Inc. grew its holdings in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock worth $205,916,000 after purchasing an additional 3,373,338 shares during the last quarter. Nuveen LLC purchased a new position in General Mills in the first quarter worth $92,717,000. Finally, Federated Hermes Inc. grew its holdings in General Mills by 178.1% in the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock worth $90,908,000 after purchasing an additional 973,798 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

General Mills Price Performance

Shares of GIS opened at $47.06 on Friday. The firm has a market capitalization of $25.10 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.17 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a 1-year low of $46.46 and a 1-year high of $68.89. The company’s fifty day moving average price is $49.36 and its 200-day moving average price is $51.68.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. On average, equities research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.2%. General Mills’s payout ratio is 46.12%.

Analysts Set New Price Targets

Several research firms have issued reports on GIS. Mizuho cut their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Jefferies Financial Group cut their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Bernstein Bank cut their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, September 18th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.82.

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.