Reliant Investment Management LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

Reliant Investment Management LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,808 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently made changes to their positions in the business. Rise Advisors LLC lifted its position in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC boosted its position in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Perkins Coie Trust Co grew its holdings in General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after buying an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC raised its position in General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after buying an additional 180 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred on 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 $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

General Mills Trading Down 0.3 %

Shares of GIS opened at $72.49 on Wednesday. General Mills, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $75.90. The business has a 50-day moving average of $71.86 and a 200 day moving average of $69.11. The firm has a market cap of $40.46 billion, a P/E ratio of 16.82, 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 quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 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 revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is currently 55.68%.

Analyst Ratings Changes

A number of research firms have issued reports on GIS. Piper Sandler lifted their price objective 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. The Goldman Sachs Group assumed coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Mizuho decreased their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Bank of America upped their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus lifted their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.73.

General Mills 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.