Farther Finance Advisors LLC Increases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Farther Finance Advisors LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,932 shares of the company’s stock after acquiring an additional 363 shares during the period. Farther Finance Advisors LLC’s holdings in General Mills were worth $512,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in General Mills in the 1st quarter valued at $308,000. Csenge Advisory Group raised its stake in shares of General Mills by 1.3% during the 1st quarter. Csenge Advisory Group now owns 13,007 shares of the company’s stock worth $910,000 after buying an additional 165 shares during the last quarter. Advisory Alpha LLC raised its stake in shares of General Mills by 17.6% during the 1st quarter. Advisory Alpha LLC now owns 10,320 shares of the company’s stock worth $722,000 after buying an additional 1,541 shares during the last quarter. ORG Partners LLC raised its stake in shares of General Mills by 75.1% during the 1st quarter. ORG Partners LLC now owns 1,602 shares of the company’s stock worth $112,000 after buying an additional 687 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in shares of General Mills by 3.3% during the 1st quarter. Empirical Finance LLC now owns 21,481 shares of the company’s stock worth $1,503,000 after buying an additional 685 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GIS. Stifel Nicolaus lifted their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Citigroup lifted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Bank of America boosted their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

General Mills Stock Performance

Shares of GIS opened at $65.99 on Thursday. The business’s 50 day moving average is $71.86 and its two-hundred day moving average is $69.15. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.50 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. Analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Insider Activity at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

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.