Philip James Wealth Mangement LLC Acquires Shares of 3,747 General Mills, Inc. (NYSE:GIS)

Philip James Wealth Mangement LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,747 shares of the company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GIS. Vanguard Group Inc. increased its holdings in General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares during the last quarter. Legal & General Group Plc raised its position in shares of General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In related news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’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 directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock valued at $4,657,676 in the last quarter. Insiders own 0.26% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS traded up $0.22 during mid-day trading on Friday, reaching $65.16. 238,237 shares of the company traded hands, compared to its average volume of 3,875,085. The firm has a market cap of $36.17 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.50 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 fifty-two week low of $61.47 and a fifty-two week high of $75.90. The stock has a fifty day simple moving average of $71.86 and a 200-day simple moving average of $69.15.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.68%. General Mills’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, September 19th. Stifel Nicolaus lifted their target price on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company upped their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.00.

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.