South Street Advisors LLC Buys Shares of 3,040 General Mills, Inc. (NYSE:GIS)

South Street Advisors LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,040 shares of the company’s stock, valued at approximately $225,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors grew its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares in the last quarter. Legal & General Group Plc grew its stake in shares of General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after buying an additional 148,235 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred 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 of the company’s stock, valued at $9,571,314.96. The trade was a 6.97 % 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, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 over the last ninety days. 0.26% of the stock is owned by company insiders.

General Mills Trading Down 2.3 %

Shares of NYSE:GIS traded down $1.50 during midday trading on Friday, hitting $63.21. 6,785,130 shares of the stock were exchanged, compared to its average volume of 3,905,717. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 3.35 and a beta of 0.11. 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 business’s 50-day moving average price is $70.67 and its 200 day moving average price is $68.85. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. Analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen raised their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Finally, Piper Sandler lifted 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. 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 data from MarketBeat.com, General Mills currently has an average rating of “Hold” and an average target price of $72.67.

General Mills 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.