Northstar Group Inc. Invests $221,000 in General Mills, Inc. (NYSE:GIS)

Northstar Group Inc. bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,989 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Capital Research Global Investors grew its position in General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. American Century Companies Inc. raised its stake in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after buying an additional 930,271 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of General Mills in the 1st quarter valued at about $36,177,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS traded up $0.39 during trading on Thursday, reaching $72.46. The stock had a trading volume of 372,026 shares, compared to its average volume of 3,924,788. The business has a fifty day moving average price of $72.05 and a 200-day moving average price of $69.15. General Mills, Inc. has a 1-year low of $61.01 and a 1-year high of $75.90. 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 cap of $40.44 billion, a PE ratio of 16.72, a PEG 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. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GIS shares. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Barclays lifted their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Evercore ISI decreased their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $72.73.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred 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 transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.