Pinnacle Financial Partners Inc Acquires 265 Shares of General Mills, Inc. (NYSE:GIS)

Pinnacle Financial Partners Inc grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,403 shares of the company’s stock after acquiring an additional 265 shares during the period. Pinnacle Financial Partners Inc’s holdings in General Mills were worth $2,319,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GIS. Values First Advisors Inc. bought a new position in General Mills during the 3rd quarter valued at approximately $27,000. RFP Financial Group LLC raised its position in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. First Foundation Advisors boosted its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. TruNorth Capital Management LLC bought a new position in General Mills in the 2nd quarter worth about $38,000. Finally, Beacon Capital Management LLC grew its position in General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 1.5 %

Shares of GIS stock opened at $65.24 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The stock has a market cap of $36.22 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.30 and a beta of 0.11. The company has a 50 day simple moving average of $71.27 and a two-hundred day simple moving average of $68.96.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business posted $1.09 EPS. General Mills’s revenue was down 1.2% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company 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. This represents a $2.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. 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 at this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,555 shares of company stock valued at $4,657,676 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GIS shares. Stifel Nicolaus upped their target price on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. TD Cowen increased their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.