Saturna Capital Corp Purchases 1,379 Shares of General Mills, Inc. (NYSE:GIS)

Saturna Capital Corp grew its position in shares of General Mills, Inc. (NYSE:GIS) by 28.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,302 shares of the company’s stock after buying an additional 1,379 shares during the quarter. Saturna Capital Corp’s holdings in General Mills were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc increased its position in General Mills by 0.9% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 31,403 shares of the company’s stock worth $2,319,000 after buying an additional 265 shares during the period. MQS Management LLC increased its position in shares of General Mills by 10.5% in the third quarter. MQS Management LLC now owns 9,918 shares of the company’s stock worth $732,000 after purchasing an additional 945 shares during the period. Hamel Associates Inc. bought a new position in shares of General Mills in the third quarter worth $4,017,000. Empower Advisory Group LLC increased its position in shares of General Mills by 0.7% in the third quarter. Empower Advisory Group LLC now owns 130,996 shares of the company’s stock worth $9,674,000 after purchasing an additional 897 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of General Mills in the third quarter worth $225,000. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GIS shares. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. TD Cowen raised 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. Stifel Nicolaus raised their price target on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Piper Sandler raised their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills Stock Performance

Shares of GIS stock opened at $64.63 on Wednesday. The business’s 50-day moving average price is $71.27 and its 200-day moving average price is $68.96. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm has a market capitalization of $35.88 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 3.29 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.

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

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills 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 completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is currently owned by corporate insiders.

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.