Philip James Wealth Mangement LLC Invests $277,000 in General Mills, Inc. (NYSE:GIS)

Philip James Wealth Mangement LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,747 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators raised its stake in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after buying an additional 151 shares in the last quarter. Secure Asset Management LLC grew its holdings in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after acquiring an additional 157 shares during the period. LCM Capital Management Inc lifted its holdings in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares during the period. Ballentine Partners LLC boosted its position in shares of General Mills by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after purchasing an additional 165 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in General Mills by 0.8% during the second quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s 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 owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,555 shares of company stock worth $4,657,676. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.3 %

GIS stock traded up $0.22 on Friday, hitting $65.16. 238,237 shares of the company were exchanged, compared to its average volume of 3,875,085. The stock has a market capitalization of $36.17 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. The business’s fifty day moving average is $71.86 and its two-hundred day moving average is $69.15. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. 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 released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Stifel Nicolaus increased their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

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.