Kennedy Investment Group Has $2.58 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Kennedy Investment Group reduced its position in General Mills, Inc. (NYSE:GIS) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,933 shares of the company’s stock after selling 457 shares during the period. General Mills comprises about 1.2% of Kennedy Investment Group’s holdings, making the stock its 20th largest position. Kennedy Investment Group’s holdings in General Mills were worth $2,580,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the last quarter. Capital Research Global Investors lifted its position 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 worth $955,118,000 after buying an additional 2,488,341 shares during the last quarter. Legal & General Group Plc increased its holdings 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 acquiring an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after acquiring an additional 148,235 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of General Mills by 7.4% in the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after acquiring an additional 369,628 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of General Mills stock traded down $1.08 during midday trading on Monday, hitting $68.85. 1,590,764 shares of the company were exchanged, compared to its average volume of 3,901,877. The firm has a 50 day simple moving average of $72.36 and a 200-day simple moving average of $69.21. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The firm has a market cap of $38.43 billion, a P/E ratio of 16.23, a PEG ratio of 3.71 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Bank of America boosted their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. The Goldman Sachs Group assumed coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the 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 sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. 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 accessible through this link. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock valued at $1,467,311 in the last three months. Corporate insiders own 0.24% of the company’s stock.

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.