SG Americas Securities LLC Has $18.80 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

SG Americas Securities LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 142.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,510 shares of the company’s stock after purchasing an additional 149,367 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $18,796,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GIS. Vanguard Group Inc. grew its stake in General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors boosted its holdings in General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares in the last quarter. American Century Companies Inc. boosted its holdings in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after acquiring an additional 930,271 shares in the last quarter. Finally, Swedbank AB bought a new position in General Mills in the first quarter worth approximately $36,177,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GIS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $72.73.

Insider Activity

In other news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on 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 directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills 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 of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

General Mills Stock Performance

NYSE:GIS traded up $0.57 during trading hours on Friday, reaching $73.61. The stock had a trading volume of 2,413,553 shares, compared to its average volume of 3,961,171. 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 50 day simple moving average of $71.74 and a 200 day simple moving average of $69.08. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The stock has a market cap of $41.09 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10.

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

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

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.