General Mills, Inc. (NYSE:GIS) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in General Mills, Inc. (NYSE:GIS) by 5.9% during the third quarter, HoldingsChannel.com reports. The fund owned 96,370 shares of the company’s stock after acquiring an additional 5,371 shares during the period. CIBC Asset Management Inc’s holdings in General Mills were worth $7,117,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GIS. Values First Advisors Inc. purchased a new position in General Mills during the third quarter worth approximately $27,000. First Foundation Advisors lifted its position in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares in the last quarter. Planning Capital Management Corp lifted its position in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after buying an additional 193 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in General Mills during the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC lifted its position in General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 2.3 %

GIS opened at $63.21 on Monday. The business has a fifty day moving average price of $70.67 and a 200 day moving average price of $68.84. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 3.25 and a beta of 0.11. General Mills, Inc. has a 12 month low of $61.47 and a 12 month 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 released its quarterly earnings data 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, October 10th. General Mills’s payout ratio is currently 57.14%.

Analyst Ratings Changes

GIS has been the topic of a number of research analyst reports. Barclays lifted their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Wells Fargo & Company reduced their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup lifted their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. TD Cowen lifted 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. Finally, Piper Sandler lifted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. One 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,555 shares of company stock valued at $4,657,676. Insiders own 0.26% of the company’s stock.

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.