Peregrine Asset Advisers Inc. Increases Stake in General Mills, Inc. (NYSE:GIS)

Peregrine Asset Advisers Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,126 shares of the company’s stock after purchasing an additional 299 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in General Mills were worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GIS. Envestnet Portfolio Solutions Inc. raised its stake in shares of General Mills by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company’s stock valued at $1,223,000 after acquiring an additional 5,594 shares during the last quarter. Empowered Funds LLC lifted its holdings in General Mills by 31.8% in the 1st quarter. Empowered Funds LLC now owns 37,319 shares of the company’s stock worth $2,611,000 after buying an additional 9,000 shares during the period. Atomi Financial Group Inc. increased its stake in shares of General Mills by 37.0% during the first quarter. Atomi Financial Group Inc. now owns 4,221 shares of the company’s stock valued at $295,000 after buying an additional 1,139 shares during the period. Sei Investments Co. raised its holdings in shares of General Mills by 7.4% during the first quarter. Sei Investments Co. now owns 356,709 shares of the company’s stock valued at $24,960,000 after acquiring an additional 24,505 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in General Mills by 4.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,297 shares of the company’s stock worth $581,000 after acquiring an additional 321 shares during the period. Institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’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 transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction 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 directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

General Mills Price Performance

GIS opened at $65.52 on Monday. The firm has a market cap of $36.37 billion, a PE ratio of 15.60, a P/E/G ratio of 3.37 and a beta of 0.11. The stock has a 50-day moving average price of $71.60 and a 200-day moving average price of $69.07. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. 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 (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for 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%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.66%. General Mills’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus lifted their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One equities research 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. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average 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.