Lecap Asset Management Ltd. Grows Stake in General Mills, Inc. (NYSE:GIS)

Lecap Asset Management Ltd. increased its stake in General Mills, Inc. (NYSE:GIS) by 21.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,841 shares of the company’s stock after purchasing an additional 2,115 shares during the quarter. Lecap Asset Management Ltd.’s holdings in General Mills were worth $874,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Global Assets Advisory LLC bought a new stake in shares of General Mills in the first quarter worth about $1,448,000. Riverview Trust Co bought a new stake in shares of General Mills during the first quarter valued at approximately $35,000. GoalVest Advisory LLC raised its stake in General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares in the last quarter. Aspiriant LLC bought a new position in General Mills in the first quarter worth approximately $212,000. Finally, Wealthcare Advisory Partners LLC bought a new position in General Mills in the first quarter worth approximately $386,000. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s 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 sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s 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 sale, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock valued at $1,467,311 in the last 90 days. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $68.58 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock has a market capitalization of $38.28 billion, a P/E ratio of 15.91, a PEG ratio of 3.71 and a beta of 0.10. The company has a 50 day moving average price of $72.33 and a 200 day moving average price of $69.19. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.50%. General Mills’s dividend payout ratio is presently 55.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Evercore ISI lowered their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Finally, Stifel Nicolaus increased 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.00.

About General Mills

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.