Schroder Investment Management Group Cuts Holdings in General Mills, Inc. (NYSE:GIS)

Schroder Investment Management Group decreased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 92,394 shares of the company's stock after selling 16,996 shares during the period. Schroder Investment Management Group's holdings in General Mills were worth $5,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GIS. Gladstone Institutional Advisory LLC grew its holdings in shares of General Mills by 6.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after purchasing an additional 268 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after buying an additional 2,926,232 shares during the period. J2 Capital Management Inc bought a new stake in General Mills in the fourth quarter valued at $547,000. Sequoia Financial Advisors LLC grew its stake in General Mills by 15.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company's stock valued at $2,749,000 after acquiring an additional 5,853 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of General Mills by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company's stock worth $4,652,000 after purchasing an additional 4,839 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm'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 transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company's stock, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company's stock.

General Mills Trading Down 2.4 %

Shares of NYSE:GIS traded down $1.41 on Tuesday, reaching $57.23. 3,654,960 shares of the company traded hands, compared to its average volume of 4,358,716. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The business's 50-day simple moving average is $59.91 and its 200 day simple moving average is $64.00. The stock has a market capitalization of $31.54 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90.

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

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Thursday, April 10th. General Mills's payout ratio is 52.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GIS shares. Mizuho decreased their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their target price on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Piper Sandler dropped their price target on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley assumed coverage on General Mills in a research note on Monday, March 24th. They issued an "underweight" rating and a $53.00 target price for the company. Finally, Citigroup reduced their price target on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.69.

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.