Brookstone Capital Management Lowers Stake in General Mills, Inc. (NYSE:GIS)

Brookstone Capital Management lessened its position in shares of General Mills, Inc. (NYSE:GISGet Rating) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,853 shares of the company’s stock after selling 587 shares during the period. Brookstone Capital Management’s holdings in General Mills were worth $744,000 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 the company. BlackRock Inc. boosted its position in shares of General Mills by 6.9% in the first quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock worth $3,285,257,000 after buying an additional 3,122,049 shares during the period. State Street Corp boosted its position in shares of General Mills by 2.3% in the first quarter. State Street Corp now owns 35,209,877 shares of the company’s stock worth $2,384,413,000 after buying an additional 786,443 shares during the period. Capital International Investors boosted its position in shares of General Mills by 2.2% in the first quarter. Capital International Investors now owns 34,562,381 shares of the company’s stock worth $2,340,594,000 after buying an additional 743,351 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of General Mills by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock worth $734,907,000 after buying an additional 75,902 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of General Mills by 15.6% in the first quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock worth $421,700,000 after buying an additional 842,191 shares during the period. Hedge funds and other institutional investors own 75.48% of the company’s stock.

General Mills Trading Up 1.3 %

Shares of NYSE GIS opened at $80.78 on Friday. The stock’s 50 day moving average price is $76.11 and its two-hundred day moving average price is $71.77. General Mills, Inc. has a 52-week low of $58.85 and a 52-week high of $81.24. The stock has a market capitalization of $48.12 billion, a P/E ratio of 18.28, a PEG ratio of 2.52 and a beta of 0.33. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 0.85.

General Mills (NYSE:GISGet Rating) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. General Mills’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that General Mills, Inc. will post 4 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s payout ratio is 48.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, July 1st. Citigroup boosted their price target on General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $81.00 to $88.00 in a research note on Thursday. Morgan Stanley boosted their price target on General Mills from $66.00 to $71.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on General Mills from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.83.

Insider Transactions at General Mills

In other news, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total transaction of $837,226.88. Following the sale, the insider now directly owns 14,884 shares in the company, valued at approximately $1,133,565.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jeffrey L. Harmening sold 37,895 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the sale, the chief executive officer now directly owns 279,482 shares in the company, valued at approximately $22,358,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total value of $837,226.88. Following the sale, the insider now owns 14,884 shares in the company, valued at $1,133,565.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,317 shares of company stock worth $7,429,156. 0.67% of the stock is currently owned by company insiders.

About General Mills

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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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

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

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