General Mills, Inc. $GIS Stock Purchased by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its General Mills stake by 35.7% in the third quarter, purchasing 36,280 additional shares and bringing its holdings to 137,808 shares valued at approximately $4.43 million.
• Analyst sentiment remained mixed, with General Mills receiving an average “Reduce” rating and a consensus price target of $36.59; institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly EPS of $0.75, exceeding expectations, while revenue declined 2.8% year over year. The company declared a quarterly dividend of $0.61 per share, representing a 7.2% annualized yield.

Sigma Planning Corp increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 35.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,808 shares of the company's stock after buying an additional 36,280 shares during the quarter. Sigma Planning Corp's holdings in General Mills were worth $4,432,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GIS. Brown Shipley& Co Ltd acquired a new stake in General Mills during the 1st quarter worth $26,000. Silvant Capital Management LLC acquired a new position in General Mills in the second quarter valued at $26,000. Main Street Group LTD acquired a new position in General Mills in the first quarter valued at $27,000. CoreCap Advisors LLC increased its stake in General Mills by 92.9% in the second quarter. CoreCap Advisors LLC now owns 787 shares of the company's stock valued at $27,000 after purchasing an additional 379 shares during the period. Finally, Elevation Wealth Partners LLC acquired a new position in General Mills in the second quarter valued at $27,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GIS shares. Bank of America reaffirmed a "neutral" rating on shares of General Mills in a report on Thursday, September 24th. Wells Fargo & Company raised their price target on General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. TD Cowen upped their price objective on General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research note on Thursday, September 24th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of General Mills in a research note on Thursday, September 24th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of "Reduce" and a consensus price target of $36.59.

General Mills Stock Performance

NYSE:GIS opened at $33.68 on Tuesday. The firm's fifty day moving average price is $35.95 and its 200 day moving average price is $37.87. General Mills, Inc. has a 1-year low of $31.17 and a 1-year high of $49.59. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.70 and a quick ratio of 0.39. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.39 billion for the quarter, compared to analysts' expectations of $4.35 billion. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. General Mills's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 3.08 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $2.44 annualized dividend and a dividend yield of 7.2%. General Mills's payout ratio is presently -146.99%.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company's brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie's, Totino's, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.

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