Birmingham Capital Management Co. Inc. AL Grows Stake in General Mills, Inc. (NYSE:GIS)

Birmingham Capital Management Co. Inc. AL raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.3% during the third quarter, HoldingsChannel.com reports. The firm owned 14,907 shares of the company’s stock after buying an additional 1,267 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in General Mills were worth $1,101,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. increased its holdings in shares of General Mills by 28.6% during the third quarter. Inspire Trust Co. N.A. now owns 45,000 shares of the company’s stock valued at $3,323,000 after acquiring an additional 10,000 shares in the last quarter. Franklin Resources Inc. lifted its position in General Mills by 0.7% during the third quarter. Franklin Resources Inc. now owns 438,014 shares of the company’s stock valued at $31,025,000 after purchasing an additional 2,842 shares during the period. Synovus Financial Corp boosted its holdings in General Mills by 72.6% in the third quarter. Synovus Financial Corp now owns 517,820 shares of the company’s stock valued at $38,241,000 after purchasing an additional 217,774 shares during the last quarter. Tidal Investments LLC grew its position in General Mills by 29.8% during the 3rd quarter. Tidal Investments LLC now owns 53,335 shares of the company’s stock worth $3,939,000 after purchasing an additional 12,248 shares during the period. Finally, Optimist Retirement Group LLC raised its stake in shares of General Mills by 19.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 28,362 shares of the company’s stock valued at $2,095,000 after buying an additional 4,528 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.9 %

Shares of General Mills stock traded up $0.60 during mid-day trading on Friday, hitting $66.68. 791,235 shares of the stock were exchanged, compared to its average volume of 3,883,367. 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 $37.02 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. The company has a 50-day simple moving average of $67.34 and a 200 day simple moving average of $68.21. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $4.85 billion during 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 company posted $1.09 EPS. Research analysts forecast that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.60%. General Mills’s dividend payout ratio (DPR) is 57.14%.

Insider Transactions at General Mills

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 value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. The trade was a 35.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays raised their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Wells Fargo & Company decreased their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. TD Cowen lifted their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Piper Sandler increased their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.00.

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.