Birmingham Capital Management Co. Inc. AL Increases Stock Position in General Mills, Inc. (NYSE:GIS)

Birmingham Capital Management Co. Inc. AL lifted its holdings in General Mills, Inc. (NYSE:GIS) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,907 shares of the company’s stock after buying an additional 1,267 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in General Mills were worth $1,101,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in shares of General Mills in the third quarter worth $27,000. First Foundation Advisors lifted 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 boosted its stake in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of General Mills in the 2nd quarter worth $42,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of General Mills in the third quarter worth $44,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $80.00 in a research note on Friday. JPMorgan Chase & Co. raised 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 boosted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Barclays raised their price target on 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, Citigroup increased their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity

In related news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, 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 ninety days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by insiders.

General Mills Price Performance

Shares of GIS stock traded up $0.60 during mid-day trading on Friday, hitting $66.68. The company had a trading volume of 791,235 shares, compared to its average volume of 3,883,367. The company has a market capitalization of $37.02 billion, a P/E ratio of 15.73, a P/E/G ratio of 3.41 and a beta of 0.10. The stock’s 50 day moving average price is $67.34 and its 200-day moving average price is $68.21. General Mills, Inc. has a 52-week low of $61.47 and a 52-week 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.

General Mills (NYSE:GIS) last released its quarterly earnings data 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 net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio 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.