General Mills, Inc. (NYSE:GIS) is Capital Management Associates Inc’s 5th Largest Position

Capital Management Associates Inc raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 52.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,211 shares of the company’s stock after purchasing an additional 63,263 shares during the quarter. General Mills accounts for approximately 5.6% of Capital Management Associates Inc’s investment portfolio, making the stock its 5th largest holding. Capital Management Associates Inc’s holdings in General Mills were worth $13,604,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new stake in General Mills during the first quarter worth about $386,000. Wealth Enhancement Advisory Services LLC boosted its holdings in General Mills by 2.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 185,581 shares of the company’s stock worth $12,985,000 after buying an additional 4,480 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in General Mills during the 1st quarter worth approximately $97,000. Kathmere Capital Management LLC increased its position in shares of General Mills by 93.2% during the first quarter. Kathmere Capital Management LLC now owns 11,125 shares of the company’s stock worth $778,000 after purchasing an additional 5,367 shares in the last quarter. Finally, Griffin Asset Management Inc. raised its stake in General Mills by 35.9% in the 1st quarter. Griffin Asset Management Inc. now owns 9,559 shares of the company’s stock valued at $669,000 after purchasing an additional 2,524 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Citigroup increased their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Mizuho reduced their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Stock Down 0.5 %

Shares of NYSE GIS opened at $68.30 on Friday. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm’s 50 day moving average price is $72.33 and its 200 day moving average price is $69.19. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market cap of $38.12 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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%. General Mills’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $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 ninety days, insiders have sold 66,555 shares of company stock valued at $4,657,676. Company insiders own 0.24% of the company’s stock.

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.