Capital Investment Counsel LLC Raises Stock Position in General Mills, Inc. (NYSE:GIS)

Capital Investment Counsel LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,473 shares of the company’s stock after buying an additional 2,986 shares during the period. Capital Investment Counsel LLC’s holdings in General Mills were worth $6,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIS. Values First Advisors Inc. purchased a new stake in General Mills during the third quarter valued at $27,000. First Foundation Advisors increased its position in shares of General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the last quarter. Planning Capital Management Corp lifted its stake in shares of General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the period. Beacon Capital Management LLC boosted its holdings in shares of 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. Finally, Catalyst Capital Advisors LLC bought a new stake in General Mills during the third quarter valued at approximately $44,000. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 9,647 shares of the business’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 directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 over the last 90 days. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GIS shares. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Barclays lifted their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Finally, Stifel Nicolaus increased their target price 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.67.

General Mills Stock Performance

Shares of NYSE GIS opened at $65.00 on Friday. The company has a market cap of $36.09 billion, a P/E ratio of 15.48, a P/E/G ratio of 3.33 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. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm’s fifty day moving average is $69.64 and its two-hundred day moving average is $68.63.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 57.14%.

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.