LRI Investments LLC Buys 200 Shares of General Mills, Inc. (NYSE:GIS)

LRI Investments LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 5.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,593 shares of the company’s stock after acquiring an additional 200 shares during the quarter. LRI Investments LLC’s holdings in General Mills were worth $265,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its stake in General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Legal & General Group Plc grew its stake in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 148,235 shares in the last quarter. American Century Companies Inc. grew its stake in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after buying an additional 263,188 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s 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 transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock valued at $4,721,336 over the last quarter. 0.26% of the stock is owned by company insiders.

General Mills Trading Up 1.3 %

Shares of General Mills stock opened at $65.90 on Tuesday. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a market cap of $36.58 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.39 and a beta of 0.10. 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 company’s 50-day moving average price is $67.80 and its 200-day moving average price is $68.26.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business earned $1.09 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s payout ratio is 57.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GIS shares. Piper Sandler raised their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus raised their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. 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 research note on Monday, October 14th. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, TD Cowen raised their price target on shares of General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.