International Assets Investment Management LLC reduced its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 98.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,934 shares of the company's stock after selling 444,517 shares during the period. International Assets Investment Management LLC's holdings in General Mills were worth $377,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of General Mills by 9.0% in the 2nd quarter. LPL Financial LLC now owns 764,816 shares of the company's stock worth $48,382,000 after acquiring an additional 63,113 shares during the period. Achmea Investment Management B.V. grew its stake in shares of General Mills by 4.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 40,677 shares of the company's stock worth $2,573,000 after purchasing an additional 1,891 shares during the period. BOKF NA increased its holdings in shares of General Mills by 1.8% in the 2nd quarter. BOKF NA now owns 24,621 shares of the company's stock valued at $1,558,000 after purchasing an additional 428 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of General Mills by 7.4% in the second quarter. Oppenheimer & Co. Inc. now owns 47,411 shares of the company's stock valued at $2,999,000 after purchasing an additional 3,270 shares during the period. Finally, Meeder Advisory Services Inc. boosted its holdings in General Mills by 48.8% during the second quarter. Meeder Advisory Services Inc. now owns 12,349 shares of the company's stock worth $781,000 after buying an additional 4,052 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at General Mills
In other news, CAO Mark A. Pallot sold 8,083 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company's stock, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,624 shares of company stock valued at $3,897,326 in the last ninety days. Company insiders own 0.26% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on GIS. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of General Mills from $68.00 to $64.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $71.31.
View Our Latest Report on General Mills
General Mills Stock Performance
GIS traded down $2.46 on Friday, hitting $58.51. 5,924,974 shares of the company's stock were exchanged, compared to its average volume of 4,547,902. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average of $64.51 and a two-hundred day moving average of $67.70. General Mills, Inc. has a twelve month low of $58.27 and a twelve month high of $75.90. The firm has a market cap of $32.25 billion, a PE ratio of 13.93, a P/E/G ratio of 3.47 and a beta of 0.11.
General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.
General Mills Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.10%. General Mills's dividend payout ratio is presently 52.17%.
About General Mills
(
Free Report)
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.
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