General Mills, Inc. (NYSE:GIS) Shares Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 6,789 shares of the company’s stock after purchasing an additional 174 shares during the period. Pathway Financial Advisers LLC’s holdings in General Mills were worth $428,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after buying an additional 8,444,312 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares during the period. Capital World Investors raised its stake in General Mills by 7.6% during the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after purchasing an additional 501,717 shares during the period. Legal & General Group Plc boosted its holdings in General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

GIS opened at $73.85 on Tuesday. The business has a 50 day moving average price of $71.08 and a two-hundred day moving average price of $68.93. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The company has a market capitalization of $41.22 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Insider Buying and Selling at General Mills

In other news, 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 $2,700,411.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of several recent research reports. Bank of America lifted their target price 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. Barclays raised their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, TD Cowen raised their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.73.

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.