Wilmington Savings Fund Society FSB Acquires 21,790 Shares of General Mills, Inc. (NYSE:GIS)

Wilmington Savings Fund Society FSB raised its position in General Mills, Inc. (NYSE:GIS) by 138.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,487 shares of the company’s stock after purchasing an additional 21,790 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in General Mills were worth $2,768,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GIS. Arkadios Wealth Advisors raised its stake in General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the period. Crossmark Global Holdings Inc. grew its stake in General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after buying an additional 104,436 shares during the last quarter. Ellsworth Advisors LLC raised its holdings in General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after acquiring an additional 74,456 shares during the period. Finally, AQR Capital Management LLC lifted its position in General Mills by 6.4% during the second quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company’s stock worth $73,206,000 after acquiring an additional 69,902 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GIS. TD Cowen upped their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Piper Sandler increased 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. JPMorgan Chase & Co. boosted their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Barclays lifted their price objective on shares of 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 restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on 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 directly owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. 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 90 days. Company insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $66.69 on Friday. The company’s 50 day moving average price is $67.20 and its two-hundred day moving average price is $68.20. The firm has a market capitalization of $37.02 billion, a P/E ratio of 15.88, a P/E/G ratio of 3.41 and a beta of 0.10. 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.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the company posted $1.09 EPS. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 3.60%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is currently 57.14%.

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.