Cardinal Capital Management Purchases 1,306 Shares of General Mills, Inc. (NYSE:GIS)

Cardinal Capital Management raised its position in General Mills, Inc. (NYSE:GIS) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,929 shares of the company’s stock after acquiring an additional 1,306 shares during the period. General Mills comprises approximately 1.3% of Cardinal Capital Management’s holdings, making the stock its 22nd largest holding. Cardinal Capital Management’s holdings in General Mills were worth $8,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Arkadios Wealth Advisors raised its stake in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares in the last quarter. iA Global Asset Management Inc. increased its stake in General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after acquiring an additional 23,411 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in General Mills in the fourth quarter worth about $764,000. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GIS shares. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. TD Cowen boosted their target price on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.00.

Insider Buying and Selling

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated 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 owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,055 shares of company stock worth $1,467,311 over the last three months. 0.24% of the stock is currently owned by company insiders.

General Mills Price Performance

Shares of GIS stock opened at $70.67 on Friday. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. 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’s 50 day moving average is $72.34 and its 200-day moving average is $69.22. The firm has a market capitalization of $39.44 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. Sell-side 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 will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is 55.68%.

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.