Fisher Asset Management LLC Buys 25,752 Shares of General Mills, Inc. (NYSE:GIS)

Fisher Asset Management LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 15.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,256 shares of the company’s stock after purchasing an additional 25,752 shares during the period. Fisher Asset Management LLC’s holdings in General Mills were worth $13,829,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares during the period. Wulff Hansen & CO. grew its holdings in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after acquiring an additional 930,271 shares during the period. Swedbank AB acquired a new stake in General Mills during the 1st quarter worth $36,177,000. International Assets Investment Management LLC grew its holdings in General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares during the period. Finally, Legal & General Group Plc grew its holdings in General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup boosted their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. 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 company a “neutral” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $72.67.

General Mills Stock Performance

Shares of GIS opened at $66.23 on Thursday. The stock has a market capitalization of $36.77 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.41 and a beta of 0.11. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm has a fifty day simple moving average of $69.12 and a 200 day simple moving average of $68.54. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion during 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%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. Research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

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

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by 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.