Palisade Asset Management LLC Purchases 512 Shares of General Mills, Inc. (NYSE:GIS)

Palisade Asset Management LLC lifted its position in General Mills, Inc. (NYSE:GIS) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 94,510 shares of the company’s stock after acquiring an additional 512 shares during the period. Palisade Asset Management LLC’s holdings in General Mills were worth $6,980,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its holdings in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after purchasing an additional 148 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of General Mills by 4.9% in the second 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 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 raised its position in General Mills by 1.9% during 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 in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after acquiring an additional 165 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was 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 directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on 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 owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS opened at $65.00 on Friday. The business’s 50 day moving average price is $69.64 and its 200-day moving average price is $68.63. General Mills, Inc. has a 1 year low of $61.47 and a 1 year 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. The firm has a market capitalization of $36.09 billion, a PE ratio of 15.48, a P/E/G ratio of 3.33 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (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 analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GIS. Piper Sandler raised their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, TD Cowen upped their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $72.67.

About General Mills

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.