General Mills, Inc. (NYSE:GIS) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 67.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,880 shares of the company’s stock after purchasing an additional 29,350 shares during the quarter. Mizuho Securities USA LLC’s holdings in General Mills were worth $5,382,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIS. Valley Wealth Managers Inc. increased its holdings in shares of General Mills by 0.7% during the 3rd quarter. Valley Wealth Managers Inc. now owns 57,490 shares of the company’s stock worth $4,246,000 after buying an additional 397 shares during the last quarter. Empowered Funds LLC grew its position in General Mills by 6.5% during the third quarter. Empowered Funds LLC now owns 79,835 shares of the company’s stock valued at $5,896,000 after acquiring an additional 4,859 shares during the period. Empirical Finance LLC increased its stake in General Mills by 2.0% during the third quarter. Empirical Finance LLC now owns 20,160 shares of the company’s stock worth $1,489,000 after acquiring an additional 388 shares during the last quarter. Vectors Research Management LLC raised its holdings in shares of General Mills by 1.6% in the 3rd quarter. Vectors Research Management LLC now owns 22,014 shares of the company’s stock worth $1,627,000 after purchasing an additional 340 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of General Mills by 5.9% in the 3rd quarter. CIBC Asset Management Inc now owns 96,370 shares of the company’s stock valued at $7,117,000 after purchasing an additional 5,371 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by insiders.

General Mills Trading Down 2.3 %

GIS opened at $63.21 on Monday. The stock has a market capitalization of $35.09 billion, a PE ratio of 15.05, a P/E/G ratio of 3.25 and a beta of 0.11. 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, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The firm’s fifty day moving average price is $70.67 and its 200 day moving average price is $68.84.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. As a group, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. General Mills’s payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GIS shares. JPMorgan Chase & Co. raised their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Wells Fargo & Company decreased their price target on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.67.

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.