Schrum Private Wealth Management LLC Buys 11,714 Shares of General Mills, Inc. (NYSE:GIS)

Schrum Private Wealth Management LLC grew its stake in General Mills, Inc. (NYSE:GIS) by 96.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,862 shares of the company’s stock after purchasing an additional 11,714 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in General Mills were worth $1,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Capital Research Global Investors boosted its position in shares of General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares in the last quarter. American Century Companies Inc. grew its stake 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. Wulff Hansen & CO. raised its holdings in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares in the last quarter. Finally, Swedbank AB purchased a new position in General Mills during the first quarter valued at $36,177,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE:GIS traded up $0.61 during mid-day trading on Wednesday, reaching $64.87. The company’s stock had a trading volume of 567,703 shares, compared to its average volume of 3,881,563. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a market cap of $36.01 billion, a P/E ratio of 15.30, a PEG ratio of 3.29 and a beta of 0.11. The firm’s fifty day moving average price is $71.27 and its two-hundred day moving average price is $68.96. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

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. On average, equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued 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 3.70%. General Mills’s payout ratio is 57.14%.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the 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 transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 in the last ninety days. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Piper Sandler lifted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Barclays upped 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, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, General Mills currently has a consensus 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.