Planning Capital Management Corp Has $37,000 Stake in General Mills, Inc. (NYSE:GIS)

Planning Capital Management Corp lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 61.5% during the third quarter, Holdings Channel.com reports. The firm owned 507 shares of the company’s stock after buying an additional 193 shares during the quarter. Planning Capital Management Corp’s holdings in General Mills were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new stake in shares of General Mills in the 3rd quarter valued at $27,000. First Foundation Advisors raised its position in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in General Mills in the 3rd quarter valued at about $44,000. Finally, TruNorth Capital Management LLC bought a new stake in General Mills in the 2nd quarter valued at about $38,000. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.8 %

Shares of GIS stock opened at $64.71 on Friday. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a fifty day moving average price of $71.10 and a 200-day moving average price of $68.93. 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 company has a market cap of $35.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.35 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction dated 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 $24,379,054.08. This represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 35.30 % 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 90 days. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GIS has been the subject of a number of research analyst reports. Bank of America boosted their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.