Jensen Investment Management Inc. Raises Stock Holdings in General Mills, Inc. (NYSE:GIS)

Jensen Investment Management Inc. boosted its stake in General Mills, Inc. (NYSE:GIS) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 130,715 shares of the company’s stock after buying an additional 7,420 shares during the period. Jensen Investment Management Inc.’s holdings in General Mills were worth $9,653,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norden Group LLC purchased a new position in General Mills in the 1st quarter worth $308,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of General Mills by 47.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company’s stock worth $1,223,000 after purchasing an additional 5,594 shares during the period. Empowered Funds LLC increased its position in shares of General Mills by 31.8% during the first quarter. Empowered Funds LLC now owns 37,319 shares of the company’s stock valued at $2,611,000 after buying an additional 9,000 shares during the period. Oppenheimer & Co. Inc. raised its stake in General Mills by 12.3% in the first quarter. Oppenheimer & Co. Inc. now owns 44,141 shares of the company’s stock worth $3,089,000 after buying an additional 4,845 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its position in General Mills by 37.0% during the 1st quarter. Atomi Financial Group Inc. now owns 4,221 shares of the company’s stock valued at $295,000 after acquiring an additional 1,139 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

Shares of General Mills stock traded up $0.58 during trading on Friday, hitting $65.52. 3,006,051 shares of the company’s stock traded hands, compared to its average volume of 3,361,745. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The business has a 50-day simple moving average of $71.60 and a 200-day simple moving average of $69.07. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a market capitalization of $36.37 billion, a P/E ratio of 15.60, a PEG ratio of 3.39 and a beta of 0.11.

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. As a group, analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

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 3.66%. 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 business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction on 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 owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. 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

Several equities research analysts recently weighed in on GIS shares. The Goldman Sachs Group began 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. Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Bank of America boosted their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. 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. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average price target 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.