Groupama Asset Managment Grows Position in General Mills, Inc. (NYSE:GIS)

Groupama Asset Managment raised its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,698 shares of the company's stock after buying an additional 13,950 shares during the quarter. Groupama Asset Managment's holdings in General Mills were worth $7,142,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GIS. Trexquant Investment LP grew its position in General Mills by 51.5% in the fourth quarter. Trexquant Investment LP now owns 363,319 shares of the company's stock worth $23,169,000 after acquiring an additional 123,473 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of General Mills by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company's stock valued at $923,907,000 after purchasing an additional 136,895 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of General Mills by 10.6% in the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock worth $30,900,000 after purchasing an additional 46,536 shares during the period. Rodgers Brothers Inc. raised its holdings in General Mills by 38.1% during the 4th quarter. Rodgers Brothers Inc. now owns 173,146 shares of the company's stock valued at $11,042,000 after buying an additional 47,755 shares during the period. Finally, Summit Financial LLC purchased a new stake in General Mills during the 4th quarter valued at $486,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

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General Mills Stock Down 2.2 %

Shares of NYSE:GIS traded down $1.33 on Friday, reaching $59.64. The company had a trading volume of 7,577,878 shares, compared to its average volume of 4,348,413. The firm has a market capitalization of $32.87 billion, a PE ratio of 12.97, a PEG ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The firm's 50 day simple moving average is $59.97 and its 200-day simple moving average is $64.26.

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

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills's payout ratio is 52.75%.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The stock was 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. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Piper Sandler reduced their price objective on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. TD Cowen decreased their price target on General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Finally, Mizuho cut their price objective on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.