General Mills, Inc. $GIS Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its position in General Mills, Inc. (NYSE:GIS) by 71.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 37,199 shares of the company’s stock after buying an additional 15,521 shares during the period. Park Avenue Securities LLC’s holdings in General Mills were worth $1,196,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Brown Shipley& Co Ltd bought a new stake in General Mills during the 1st quarter worth approximately $26,000. Silvant Capital Management LLC bought a new position in shares of General Mills during the 2nd quarter worth approximately $26,000. Main Street Group LTD bought a new stake in shares of General Mills in the first quarter worth $27,000. Elevation Wealth Partners LLC acquired a new position in General Mills during the second quarter worth $27,000. Finally, CoreCap Advisors LLC increased its stake in General Mills by 92.9% in the 2nd quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock valued at $27,000 after buying an additional 379 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 1.4%

Shares of NYSE:GIS opened at $34.77 on Tuesday. The business’s 50 day simple moving average is $35.30 and its 200 day simple moving average is $37.56. The company has a market capitalization of $18.59 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.79 and a beta of 0.03. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.70 and a quick ratio of 0.39. General Mills, Inc. has a 1 year low of $31.17 and a 1 year high of $49.59.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.35 billion. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. On average, research analysts anticipate that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Tuesday, October 13th. General Mills’s dividend payout ratio is currently -146.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating on shares of General Mills in a research note on Thursday, September 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $34.00 price target (up from $33.00) on shares of General Mills in a research report on Thursday, September 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of General Mills in a report on Monday, September 21st. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $36.59.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.