General Mills, Inc. (NYSE:GIS) Stake Lifted by Toronto Dominion Bank

Toronto Dominion Bank increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,453 shares of the company’s stock after buying an additional 19,510 shares during the quarter. Toronto Dominion Bank’s holdings in General Mills were worth $21,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. grew its stake in General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after buying an additional 148 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in 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 during the last quarter. Secure Asset Management LLC grew its stake in General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the last quarter. LCM Capital Management Inc grew its stake in General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in 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 acquiring an additional 165 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GIS. Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Finally, Wells Fargo & Company reduced 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.67.

Insider Activity at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,555 shares of company stock valued at $4,721,336. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.9 %

Shares of NYSE GIS opened at $66.07 on Friday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a market cap of $36.68 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 3.39 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $67.48 and a 200-day simple moving average of $68.23.

General Mills (NYSE:GIS) last announced 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 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 business posted $1.09 earnings per share. General Mills’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is 57.14%.

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.