Boston Financial Mangement LLC Boosts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Boston Financial Mangement LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 38.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,114 shares of the company’s stock after purchasing an additional 1,695 shares during the quarter. Boston Financial Mangement LLC’s holdings in General Mills were worth $452,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. abrdn plc increased its holdings in shares of General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares in the last quarter. Welch Group LLC increased its holdings in shares of General Mills by 2.1% during the 3rd quarter. Welch Group LLC now owns 690,718 shares of the company’s stock valued at $51,010,000 after purchasing an additional 14,175 shares in the last quarter. Insight Folios Inc increased its holdings in shares of General Mills by 6.3% during the 3rd quarter. Insight Folios Inc now owns 96,556 shares of the company’s stock valued at $7,131,000 after purchasing an additional 5,730 shares in the last quarter. IVC Wealth Advisors LLC purchased a new position in shares of General Mills during the 3rd quarter valued at approximately $208,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of General Mills by 5.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,669 shares of the company’s stock valued at $4,775,000 after purchasing an additional 3,065 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 0.5 %

Shares of GIS stock opened at $67.95 on Wednesday. The company’s 50-day moving average price is $72.24 and its 200-day moving average price is $69.19. 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 stock has a market cap of $37.93 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.55 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.

General Mills (NYSE:GIS) last announced its quarterly earnings results 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. General Mills’s payout ratio is 55.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Argus reissued a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Mizuho cut their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Barclays boosted their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, Bank of America boosted their price target 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $73.00.

Insider Activity

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, 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 can be accessed through this link. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated 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 transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.24% of the stock is currently owned by insiders.

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.