NorthRock Partners LLC Increases Position in General Mills, Inc. $GIS

NorthRock Partners LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 1,115.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,201 shares of the company’s stock after purchasing an additional 50,660 shares during the period. NorthRock Partners LLC’s holdings in General Mills were worth $2,860,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in General Mills during the 1st quarter valued at $279,570,000. Pacer Advisors Inc. raised its holdings in General Mills by 4,775.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares during the period. Nuveen LLC bought a new stake in General Mills during the 1st quarter valued at $92,717,000. Finally, Federated Hermes Inc. raised its holdings in General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after acquiring an additional 973,798 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE GIS opened at $49.37 on Monday. The company has a 50-day simple moving average of $49.78 and a two-hundred day simple moving average of $52.66. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $72.55. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.24 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio is currently 46.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. HSBC decreased their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Stifel Nicolaus decreased their price target on shares of General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.