General Mills, Inc. (NYSE:GIS) Shares Acquired by Associated Banc Corp

Associated Banc Corp lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,508 shares of the company’s stock after buying an additional 486 shares during the period. Associated Banc Corp’s holdings in General Mills were worth $2,105,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arkadios Wealth Advisors increased its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the period. Janney Montgomery Scott LLC raised its position in General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after acquiring an additional 23,411 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in shares of General Mills by 10.5% in the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after acquiring an additional 11,334 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now directly 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. Over the last three months, insiders have sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by insiders.

General Mills Price Performance

NYSE:GIS opened at $65.53 on Tuesday. The stock has a 50 day moving average of $69.46 and a two-hundred day moving average of $68.59. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm has a market cap of $36.38 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 3.38 and a beta of 0.11. 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 issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. On average, analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have commented on GIS shares. Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.67.

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.