General Mills, Inc. (NYSE:GIS) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. grew its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 109.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,159 shares of the company's stock after acquiring an additional 301,300 shares during the quarter. APG Asset Management N.V. owned about 0.10% of General Mills worth $35,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC grew its holdings in shares of General Mills by 47.5% during the fourth quarter. Advisory Services Network LLC now owns 36,032 shares of the company's stock valued at $2,298,000 after buying an additional 11,598 shares during the last quarter. Sandhill Capital Partners LLC lifted its position in General Mills by 1.3% during the 4th quarter. Sandhill Capital Partners LLC now owns 61,315 shares of the company's stock worth $3,910,000 after acquiring an additional 799 shares during the period. Capula Management Ltd purchased a new stake in General Mills during the 4th quarter valued at about $432,000. Renaissance Technologies LLC acquired a new position in shares of General Mills in the fourth quarter valued at about $27,609,000. Finally, Bank of Nova Scotia raised its stake in shares of General Mills by 12.4% in the fourth quarter. Bank of Nova Scotia now owns 177,596 shares of the company's stock worth $11,325,000 after purchasing an additional 19,615 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Remove Ads

General Mills Price Performance

General Mills stock traded up $0.60 during midday trading on Monday, reaching $58.57. The company had a trading volume of 1,153,094 shares, compared to its average volume of 5,924,732. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a market capitalization of $32.29 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.94 and a beta of 0.15. The firm's fifty day simple moving average is $59.61 and its 200-day simple moving average is $63.37.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business's revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.10%. General Mills's dividend payout ratio is currently 52.75%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GIS. Barclays cut their price target on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Stifel Nicolaus lowered their price target on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, December 19th. Finally, Piper Sandler lowered their price objective on General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $65.69.

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.