Studio Investment Management LLC Purchases 916 Shares of General Mills, Inc. (NYSE:GIS)

Studio Investment Management LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 63,889 shares of the company’s stock after purchasing an additional 916 shares during the period. General Mills accounts for about 1.0% of Studio Investment Management LLC’s portfolio, making the stock its 27th largest position. Studio Investment Management LLC’s holdings in General Mills were worth $4,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Values First Advisors Inc. bought a new position in shares of General Mills in the third quarter valued at approximately $27,000. First Foundation Advisors lifted its position in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Planning Capital Management Corp boosted its holdings in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the period. TruNorth Capital Management LLC bought a new stake in General Mills during the 2nd quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC grew its holdings in General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.4 %

GIS opened at $64.08 on Friday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year 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 firm has a 50-day moving average price of $69.82 and a two-hundred day moving average price of $68.66. The stock has a market capitalization of $35.57 billion, a PE ratio of 15.26, a PEG ratio of 3.26 and a beta of 0.11.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.75%. General Mills’s dividend payout ratio is currently 57.14%.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GIS shares. Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Bank of America increased their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays raised their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Citigroup increased their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $72.67.

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.