Integrated Investment Consultants LLC Takes Position in General Mills, Inc. (NYSE:GIS)

Integrated Investment Consultants LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,927 shares of the company’s stock, valued at approximately $1,398,000.

Several other hedge funds have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. grew its stake in shares of General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of General Mills by 4.9% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the period. Secure Asset Management LLC raised its holdings in shares of General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares in the last quarter. LCM Capital Management Inc lifted its stake in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after acquiring an additional 157 shares during the period. Finally, Ballentine Partners LLC boosted 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 in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $63.80 on Thursday. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business has a fifty day moving average price of $70.00 and a 200-day moving average price of $68.70. The company has a market capitalization of $35.42 billion, a PE ratio of 15.19, a PEG ratio of 3.26 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 (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during 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 business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, equities analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.76%. General Mills’s dividend payout ratio is currently 57.14%.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIS. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Stifel Nicolaus increased their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company decreased their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. lifted their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.