Portfolio Design Labs LLC Buys Shares of 30,412 General Mills, Inc. (NYSE:GIS)

Portfolio Design Labs LLC purchased a new position in General Mills, Inc. (NYSE:GIS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,412 shares of the company’s stock, valued at approximately $2,246,000.

Several other hedge funds also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in shares of General Mills during the third quarter valued at about $27,000. First Foundation Advisors increased its holdings in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the period. Planning Capital Management Corp lifted its stake in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in General Mills in the 3rd quarter valued at $44,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of General Mills stock opened at $62.78 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The business’s 50 day simple moving average is $70.18 and its two-hundred day simple moving average is $68.73. The stock has a market capitalization of $34.85 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last issued 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. The company 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 firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. Analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.82%. General Mills’s payout ratio is presently 57.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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 report on Thursday, September 19th. Barclays upped their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.67.

Insider Activity at General Mills

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’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 owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock worth $4,721,336 in the last 90 days. Company 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.