Whitnell & Co. Acquires 4,400 Shares of General Mills, Inc. (NYSE:GIS)

Whitnell & Co. lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 100.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,800 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. Whitnell & Co.’s holdings in General Mills were worth $485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in General Mills by 15.8% in the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after acquiring an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC increased its stake in General Mills by 24,698.3% in the second quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock valued at $191,063,000 after acquiring an additional 3,623,246 shares during the last quarter. Iridian Asset Management LLC CT bought a new position in General Mills in the second quarter valued at approximately $106,946,000. Renaissance Technologies LLC increased its stake in General Mills by 44.6% in the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock valued at $279,085,000 after acquiring an additional 1,639,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in General Mills by 1.4% in the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock valued at $2,477,631,000 after acquiring an additional 643,774 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

In related news, insider Jonathon Nudi sold 18,951 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $54.52, for a total value of $1,033,208.52. Following the transaction, the insider now owns 81,656 shares in the company, valued at $4,451,885.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the transaction, the insider now owns 35,487 shares in the company, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

GIS has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of General Mills in a research note on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 22nd. Barclays reissued a “hold” rating and issued a $55.00 price objective on shares of General Mills in a research note on Friday, September 20th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $56.00 price objective on shares of General Mills in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. General Mills has an average rating of “Hold” and an average price target of $53.82.

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Shares of NYSE GIS traded up $0.52 during midday trading on Friday, reaching $52.50. 2,629,920 shares of the company were exchanged, compared to its average volume of 4,115,356. The stock’s 50-day moving average price is $52.93 and its 200-day moving average price is $52.93. The stock has a market cap of $31.18 billion, a P/E ratio of 16.30, a PEG ratio of 2.19 and a beta of 0.71. General Mills, Inc. has a one year low of $36.42 and a one year high of $56.40. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 3.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.73%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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