Providence Capital Advisors LLC Buys 377 Shares of General Mills, Inc. (NYSE:GIS)

Providence Capital Advisors LLC grew its stake in General Mills, Inc. (NYSE:GIS) by 1.0% in the 3rd quarter, Holdings Channel reports. The firm owned 38,641 shares of the company’s stock after purchasing an additional 377 shares during the period. Providence Capital Advisors LLC’s holdings in General Mills were worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after acquiring an additional 148,235 shares in the last quarter. American Century Companies Inc. increased its stake in shares of General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares in the last quarter. Finally, abrdn plc increased its stake in shares of General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after acquiring an additional 92,931 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $66.23 on Thursday. The firm’s 50-day moving average price is $69.12 and its 200-day moving average price is $68.54. 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 company has a market cap of $36.77 billion, a PE ratio of 15.77, a PEG ratio of 3.41 and a beta of 0.11. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. As a group, analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

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

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’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 completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIS. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Bank of America increased their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. TD Cowen increased their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.67.

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.