Y Intercept Hong Kong Ltd Invests $1.21 Million in General Mills, Inc. (NYSE:GIS)

Y Intercept Hong Kong Ltd bought a new stake in General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 16,432 shares of the company’s stock, valued at approximately $1,214,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of General Mills in the third quarter valued at $27,000. First Foundation Advisors grew its position in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp increased its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of General Mills in the third quarter valued at approximately $44,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of General Mills in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other news, insider Jonathon Nudi sold 9,647 shares of the company’s 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 completion of the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The shares were 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 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 sold a total of 67,555 shares of company stock worth $4,721,336 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GIS shares. JPMorgan Chase & Co. increased 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. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note 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 note on Friday, September 20th. Barclays increased their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Finally, Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Down 1.0 %

GIS opened at $65.50 on Thursday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. 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 stock has a market capitalization of $36.36 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 3.39 and a beta of 0.10. The business’s 50-day simple moving average is $67.63 and its 200-day simple moving average is $68.25.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS 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 firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.66%. General Mills’s dividend payout ratio (DPR) is 57.14%.

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.