General Mills, Inc. (NYSE:GIS) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in General Mills, Inc. (NYSE:GIS) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,886 shares of the company’s stock after acquiring an additional 20,571 shares during the period. Pacer Advisors Inc.’s holdings in General Mills were worth $7,303,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its position in shares of General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after purchasing an additional 323,090 shares during the period. Dimensional Fund Advisors LP grew its holdings in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after acquiring an additional 148,235 shares during the period. American Century Companies Inc. grew its holdings in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after acquiring an additional 263,188 shares during the last quarter. Finally, abrdn plc lifted its holdings in General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after acquiring an additional 92,931 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 1.4 %

NYSE GIS opened at $65.00 on Friday. 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, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The firm’s fifty day simple moving average is $69.64 and its 200-day simple moving average is $68.63. The company has a market capitalization of $36.09 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.33 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its 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 analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is 57.14%.

Insider Transactions at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. 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. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company decreased their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. 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. Finally, JPMorgan Chase & Co. raised their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.67.

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.