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General Mills, Inc. (NYSE:GIS) Shares Purchased by National Bank of Canada FI


National Bank of Canada FI increased its position in shares of General Mills, Inc. (NYSE:GISGet Rating) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,828 shares of the company’s stock after purchasing an additional 501 shares during the quarter. National Bank of Canada FI’s holdings in General Mills were worth $2,936,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in General Mills during the second quarter worth $29,000. Marquette Asset Management LLC acquired a new position in shares of General Mills in the first quarter worth $26,000. Dravo Bay LLC acquired a new position in shares of General Mills in the first quarter worth $27,000. Core Alternative Capital raised its holdings in shares of General Mills by 1,160.6% in the first quarter. Core Alternative Capital now owns 416 shares of the company’s stock worth $28,000 after acquiring an additional 383 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of General Mills by 204.7% in the first quarter. Riverview Trust Co now owns 457 shares of the company’s stock worth $31,000 after acquiring an additional 307 shares during the last quarter. 75.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 25,902 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $77.50, for a total value of $2,007,405.00. Following the transaction, the insider now owns 82,530 shares in the company, valued at $6,396,075. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jonathon Nudi sold 25,902 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $77.50, for a total value of $2,007,405.00. Following the transaction, the insider now owns 82,530 shares in the company, valued at $6,396,075. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jodi J. Benson sold 15,685 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $75.25, for a total value of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares in the company, valued at approximately $2,865,896.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,570 shares of company stock worth $7,434,941. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GIS. StockNews.com started coverage on General Mills in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Credit Suisse Group lifted their price objective on General Mills from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, September 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, September 22nd. Piper Sandler lifted their price objective on General Mills from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, September 22nd. Finally, The Goldman Sachs Group lifted their price objective on General Mills from $64.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $76.38.

General Mills Price Performance

Shares of NYSE GIS opened at $77.41 on Tuesday. General Mills, Inc. has a 1-year low of $61.20 and a 1-year high of $81.24. The business has a 50-day moving average of $77.08 and a 200-day moving average of $73.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.60 and a quick ratio of 0.35. The company has a market capitalization of $45.95 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.53 and a beta of 0.32.

General Mills (NYSE:GISGet Rating) last issued its earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.11. General Mills had a return on equity of 23.87% and a net margin of 15.13%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that General Mills, Inc. will post 4.1 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, October 6th. General Mills’s dividend payout ratio (DPR) is 45.47%.

General Mills Company Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)



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