Federated Hermes Inc. Raises Holdings in General Mills, Inc. (NYSE:GIS)

Federated Hermes Inc. lifted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 42.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 546,651 shares of the company's stock after purchasing an additional 162,495 shares during the period. Federated Hermes Inc. owned 0.10% of General Mills worth $34,860,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of General Mills in the 4th quarter valued at about $496,484,000. Nordea Investment Management AB increased its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock worth $497,054,000 after buying an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Nepsis Inc. boosted its stake in shares of General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the period. Finally, Vanguard Group Inc. raised its stake in General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock valued at $4,376,573,000 after acquiring an additional 1,868,508 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

Remove Ads

General Mills Trading Up 1.3 %

Shares of General Mills stock traded up $0.75 during midday trading on Friday, reaching $57.92. The company had a trading volume of 4,235,540 shares, compared to its average volume of 4,406,074. The firm has a market cap of $31.93 billion, a PE ratio of 12.59, a P/E/G ratio of 1.94 and a beta of 0.15. The stock has a fifty day moving average price of $59.61 and a 200 day moving average price of $63.37. 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 fifty-two week low of $55.15 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. On average, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current 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 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio (DPR) is 52.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on GIS. Citigroup decreased their price objective on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 target price on shares of General Mills in a research report on Monday, March 17th. Piper Sandler reduced their price target on General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. TD Cowen decreased their target price on shares of General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America dropped their price target on General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.69.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.