Zurcher Kantonalbank Zurich Cantonalbank Buys 3,993 Shares of General Mills, Inc. (NYSE:GIS)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in General Mills, Inc. (NYSE:GIS) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 534,409 shares of the company’s stock after acquiring an additional 3,993 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of General Mills worth $39,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GIS. Values First Advisors Inc. acquired a new position in General Mills during the 3rd quarter worth $27,000. First Foundation Advisors lifted its stake in shares of General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the period. Planning Capital Management Corp boosted its holdings in General Mills by 61.5% in 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 last quarter. TruNorth Capital Management LLC bought a new position in General Mills in the second quarter valued at about $38,000. Finally, Fairscale Capital LLC acquired a new stake in General Mills in the second quarter worth about $42,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GIS. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. TD Cowen lifted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Bank of America lifted their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Stifel Nicolaus lifted 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Up 0.4 %

General Mills stock opened at $66.23 on Friday. The stock has a market capitalization of $36.77 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.11. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. 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 50 day moving average of $68.94 and a 200-day moving average of $68.52.

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 the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

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

Insider Activity

In related news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at $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. Insiders have sold 67,555 shares of company stock valued at $4,721,336 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

General Mills Company 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.