Callan Family Office LLC Makes New $439,000 Investment in General Mills, Inc. $GIS

Key Points

• Callan Family Office LLC has acquired a new position in General Mills, purchasing 8,478 shares for approximately $439,000 during the second quarter.
• General Mills reported $0.86 earnings per share for the quarter, exceeding analyst expectations of $0.82, despite a 6.8% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.61, yielding 5.0%, which will be paid on November 3rd, with the ex-dividend date on October 10th.

Callan Family Office LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,478 shares of the company's stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after purchasing an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of General Mills during the first quarter worth about $279,570,000. Pacer Advisors Inc. raised its position in shares of General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock worth $205,916,000 after purchasing an additional 3,373,338 shares during the period. Nuveen LLC acquired a new stake in shares of General Mills during the first quarter worth about $92,717,000. Finally, Federated Hermes Inc. raised its position in shares of General Mills by 178.1% during the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company's stock worth $90,908,000 after purchasing an additional 973,798 shares during the period. Institutional investors own 75.71% of the company's stock.

Analysts Set New Price Targets

GIS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. Stifel Nicolaus dropped their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of General Mills in a research report on Wednesday, October 8th. Bank of America dropped their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, HSBC dropped their target price on General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $55.82.

General Mills Stock Up 0.9%

NYSE:GIS opened at $48.58 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a twelve month low of $47.71 and a twelve month high of $72.55. The stock's 50 day moving average price is $49.75 and its two-hundred day moving average price is $52.56. The firm has a market capitalization of $25.91 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 1.21 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. Equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.0%. General Mills's payout ratio is 46.12%.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

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.

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