Stephens Inc. AR Purchases 115,444 Shares of General Mills, Inc. (NYSE:GIS)

by · The Markets Daily

Stephens Inc. AR grew its position in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 71.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 276,076 shares of the company’s stock after acquiring an additional 115,444 shares during the quarter. Stephens Inc. AR’s holdings in General Mills were worth $20,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. Values First Advisors Inc. bought a new stake in General Mills in the third quarter worth $27,000. RFP Financial Group LLC lifted its position in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. First Foundation Advisors lifted its position in General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in General Mills in the second quarter worth $38,000. Finally, Beacon Capital Management LLC lifted its position in General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after buying an additional 180 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.3 %

NYSE:GIS opened at $68.01 on Friday. The company has a market cap of $37.76 billion, a PE ratio of 16.19, a P/E/G ratio of 3.51 and a beta of 0.10. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $72.14 and its two-hundred day moving average is $69.18.

General Mills (NYSE:GIS – Get Free Report) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company 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%. General Mills’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.53%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were 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 owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of analyst reports. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus lifted their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus price target of $73.00.

Read Our Latest Analysis on General Mills

General Mills Profile

(Free Report)

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.

Further Reading