General Mills, Inc. (NYSE:GIS) Shares Purchased by Intellectus Partners LLC

Intellectus Partners LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,615 shares of the company’s stock after purchasing an additional 1,254 shares during the quarter. Intellectus Partners LLC’s holdings in General Mills were worth $1,375,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arkadios Wealth Advisors grew its holdings in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of General Mills by 92.5% in the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after purchasing an additional 23,411 shares in the last quarter. DNB Asset Management AS raised its stake in General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after buying an additional 11,334 shares in the last quarter. Finally, Ellsworth Advisors LLC lifted its stake in General Mills by 105.8% during the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after purchasing an additional 74,456 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE GIS opened at $64.71 on Friday. The stock has a market capitalization of $35.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 3.35 and a beta of 0.11. The company has a 50 day moving average price of $71.10 and a two-hundred day moving average price of $68.93. The company has a quick ratio of 0.39, a current ratio of 0.66 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 issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.71%. General Mills’s payout ratio is 57.14%.

Analysts Set New Price Targets

GIS has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Bank of America upped their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays raised their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Stifel Nicolaus boosted their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their price objective on 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 issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,555 shares of company stock worth $4,657,676. Insiders own 0.26% of the company’s stock.

General Mills 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.