Avidian Wealth Enterprises LLC Invests $316,000 in General Mills, Inc. (NYSE:GIS)

Avidian Wealth Enterprises LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,283 shares of the company’s stock, valued at approximately $316,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares in the last quarter. Capital Research Global Investors increased its position in 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 purchasing an additional 2,488,341 shares during the period. Legal & General Group Plc lifted its holdings in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after buying an additional 148,235 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Down 1.6 %

Shares of GIS stock opened at $64.93 on Friday. The company has a market capitalization of $36.05 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 3.50 and a beta of 0.11. 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 firm has a 50-day moving average price of $71.86 and a 200 day moving average price of $69.15. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Insider Activity at General Mills

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 value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, 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 Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction 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 transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of recent analyst reports. Citigroup raised their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Barclays increased their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $73.00.

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.