General Mills, Inc. (NYSE:GIS) Shares Sold by abrdn plc

abrdn plc lowered its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,386,696 shares of the company's stock after selling 106,222 shares during the quarter. abrdn plc owned approximately 0.43% of General Mills worth $151,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of General Mills during the second quarter worth $3,202,000. Czech National Bank grew its stake in General Mills by 5.4% during the 3rd quarter. Czech National Bank now owns 113,389 shares of the company's stock valued at $8,374,000 after acquiring an additional 5,808 shares in the last quarter. GAMMA Investing LLC raised its holdings in General Mills by 12.5% in the 3rd quarter. GAMMA Investing LLC now owns 12,417 shares of the company's stock valued at $917,000 after acquiring an additional 1,383 shares during the last quarter. SignalPoint Asset Management LLC purchased a new position in General Mills in the 3rd quarter worth approximately $225,000. Finally, Hurlow Wealth Management Group Inc. acquired a new position in shares of General Mills during the 3rd quarter worth approximately $224,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Wall Street Analyst Weigh In

GIS has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Barclays cut their target price on General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on shares of General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. TD Cowen cut their price objective on shares of General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Finally, Citigroup decreased their target price on shares of General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $70.94.

Insider Buying and Selling

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now 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 filing with the SEC, which is available through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company's stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

General Mills Stock Up 1.2 %

Shares of GIS traded up $0.69 during mid-day trading on Wednesday, hitting $59.60. 4,118,927 shares of the company's stock were exchanged, compared to its average volume of 4,388,427. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 3.88 and a beta of 0.10. The stock's 50-day moving average is $62.73 and its 200-day moving average is $67.27. General Mills, Inc. has a fifty-two week low of $57.94 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.4 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio is presently 52.17%.

General Mills Company 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.