Advocate Group LLC Has $39.55 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Advocate Group LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 15.1% in the third quarter, Holdings Channel.com reports. The firm owned 535,589 shares of the company’s stock after acquiring an additional 70,119 shares during the period. General Mills makes up about 7.2% of Advocate Group LLC’s investment portfolio, making the stock its largest position. Advocate Group LLC’s holdings in General Mills were worth $39,553,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its holdings in shares of 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 grew its holdings in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. Fortis Group Advisors LLC grew its holdings in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. RFP Financial Group LLC grew its holdings in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GIS shares. Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Evercore ISI cut their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Barclays raised their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Finally, Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $72.73.

General Mills Stock Performance

GIS stock traded up $0.39 during mid-day trading on Thursday, hitting $72.46. 372,026 shares of the company were exchanged, compared to its average volume of 3,924,788. The business has a 50 day simple moving average of $72.05 and a 200-day simple moving average of $69.15. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $40.44 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.01 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

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

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the firm’s 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 transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.