World Investment Advisors LLC Makes New $403,000 Investment in General Mills, Inc. (NYSE:GIS)

World Investment Advisors LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,457 shares of the company’s stock, valued at approximately $403,000.

Several other institutional investors also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. boosted its position in General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after acquiring an additional 148 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after acquiring an additional 151 shares in the last quarter. Secure Asset Management LLC boosted its position in General Mills by 5.0% during the 2nd 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 boosted its position in General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in General Mills by 1.1% during the 3rd 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. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of GIS opened at $65.92 on Wednesday. The stock has a 50-day moving average of $66.93 and a two-hundred day moving average of $68.20. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock has a market cap of $36.60 billion, a P/E ratio of 15.70, a P/E/G ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS) last issued 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The business 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 dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. General Mills’s payout ratio is currently 57.14%.

Insider Buying and Selling at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 67,555 shares of company stock worth $4,721,336. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus raised their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company lowered their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has an average rating of “Hold” and an average target price of $73.00.

General Mills 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.