Pathway Financial Advisers LLC Grows Position in General Mills, Inc. (NYSE:GIS)

Pathway Financial Advisers LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.3% in the third quarter, HoldingsChannel.com reports. The firm owned 7,216 shares of the company’s stock after buying an additional 427 shares during the quarter. Pathway Financial Advisers LLC’s holdings in General Mills were worth $533,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GIS. Wealthcare Advisory Partners LLC purchased a new stake in shares of General Mills during the first quarter valued at approximately $386,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of General Mills by 2.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 185,581 shares of the company’s stock valued at $12,985,000 after purchasing an additional 4,480 shares during the period. Founders Financial Securities LLC purchased a new stake in shares of General Mills during the first quarter valued at approximately $367,000. Cornerstone Wealth Group LLC purchased a new stake in General Mills in the first quarter worth $258,000. Finally, Diversified Trust Co bought a new stake in General Mills in the first quarter valued at $1,356,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.5 %

GIS stock opened at $68.30 on Friday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market cap of $37.92 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.55 and a beta of 0.10. The business has a 50 day moving average of $72.31 and a 200 day moving average of $69.17.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. General Mills’s payout ratio is currently 57.14%.

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GIS. Bank of America upped their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Piper Sandler raised their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Citigroup upped their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. Finally, Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $73.00.

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.