39,620 Shares of General Mills, Inc. $GIS Purchased by Moneco Advisors LLC

Moneco Advisors LLC bought a new position in General Mills, Inc. (NYSE:GIS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,620 shares of the company’s stock, valued at approximately $1,274,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in General Mills in the second quarter valued at approximately $2,181,608,000. Bank of New York Mellon Corp acquired a new stake in shares of General Mills during the 2nd quarter worth approximately $129,298,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of General Mills during the 2nd quarter worth approximately $126,097,000. Legal & General Group Plc acquired a new stake in shares of General Mills during the 2nd quarter worth approximately $121,707,000. Finally, Deutsche Bank AG purchased a new position in shares of General Mills during the 2nd quarter valued at approximately $105,889,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about General Mills

Here are a few of the latest headlines about GIS:

• Positive Sentiment: The new operating model is presented as a way to improve efficiency and support profitable growth over time. That offers a possible strategic upside, but it is a longer-term plan rather than an immediate earnings improvement. Can General Mills’ New Operating Model Drive Profitable Growth?
• Neutral Sentiment: Commentary has described GIS as a potential bargain after a substantial decline in its shares. This could attract value-oriented buyers, but the valuation argument alone does not resolve concerns about the company’s growth outlook. General Mills (GIS) Stock Could Be A Bargain After A 38% Fall
• Neutral Sentiment: The restructuring news is the clearest recent company-specific development in these reports. The articles do not describe an immediate financial impact, so investors may wait for evidence that the new structure improves results. General Mills to reorganize operating model into three segments

General Mills Stock Performance

NYSE:GIS opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.39 and a current ratio of 0.70. The stock has a market capitalization of $18.26 billion and a PE ratio of -20.58. General Mills, Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $49.59. The company has a fifty day moving average of $34.51 and a two-hundred day moving average of $37.23.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.35 billion. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Tuesday, October 13th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 7.1%. The ex-dividend date was Tuesday, October 13th. General Mills’s payout ratio is presently -146.99%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GIS shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of General Mills in a research note on Monday, September 21st. Piper Sandler downgraded shares of General Mills from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $41.00 to $35.00 in a report on Thursday. TD Cowen raised their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, September 24th. Jefferies Financial Group set a $35.00 price objective on shares of General Mills in a report on Thursday, September 10th. Finally, Bank of America reiterated a “neutral” rating on shares of General Mills in a research report on Thursday, September 24th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $36.24.

General Mills Profile

General Mills, Inc. is a food company that develops, manufactures and markets branded consumer foods. Its products include breakfast cereals, snack bars, baking mixes and refrigerated dough, along with meals and pet food. Its brands include Cheerios, Nature Valley, Betty Crocker, Pillsbury and Blue Buffalo. The company traces its history to the Minneapolis Milling Company, established in 1866. The General Mills name was adopted in 1928 by the Washburn Crosby Company, a predecessor of today’s business.