Oppenheimer Asset Management Inc. Invests $243,000 in General Mills, Inc. (NYSE:GIS)

Oppenheimer Asset Management Inc. acquired a new position in General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,293 shares of the company’s stock, valued at approximately $243,000.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in shares of General Mills in the third quarter valued at about $27,000. First Foundation Advisors lifted 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 acquired a new position in shares of General Mills during the 2nd quarter worth approximately $38,000. Beacon Capital Management LLC grew its position in shares of General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in General Mills during the second quarter worth approximately $42,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 1.6 %

General Mills stock opened at $63.80 on Thursday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The firm has a market capitalization of $35.42 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11. 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’s fifty day moving average is $70.00 and its two-hundred day moving average is $68.70.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.76%. General Mills’s dividend payout ratio is presently 57.14%.

Insider Transactions at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock worth $4,721,336 in the last three months. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays upped their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.67.

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.