Pacer Advisors Inc. Has $7.30 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Pacer Advisors Inc. increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 26.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,886 shares of the company’s stock after acquiring an additional 20,571 shares during the quarter. Pacer Advisors Inc.’s holdings in General Mills were worth $7,303,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. raised its holdings in General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after acquiring an additional 930,271 shares in the last quarter. Swedbank AB bought a new stake in shares of General Mills in the 1st quarter worth approximately $36,177,000. International Assets Investment Management LLC grew its holdings in shares of General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after purchasing an additional 443,202 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new stake in shares of General Mills during the first quarter valued at approximately $29,199,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Mills

In related news, Director Maria Sastre sold 1,000 shares of General Mills 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 completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This 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 over the last 90 days. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent research reports. Piper Sandler lifted their price target 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. TD Cowen raised their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Bank of America increased their price target 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. Barclays raised their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. One 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 currently has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Up 1.4 %

Shares of NYSE GIS opened at $65.00 on Friday. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The firm’s 50-day simple moving average is $69.64 and its 200 day simple moving average is $68.63. 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 company has a market cap of $36.09 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth 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 analysts’ consensus estimates 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 analyst estimates of $4.80 billion. During the same period in the prior year, the business earned $1.09 earnings per share. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. General Mills’s dividend payout ratio (DPR) is currently 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.