Invesco Ltd. Acquires 924,982 Shares of General Mills, Inc. (NYSE:GIS)

Invesco Ltd. grew its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,989,111 shares of the company's stock after purchasing an additional 924,982 shares during the period. Invesco Ltd. owned approximately 1.09% of General Mills worth $381,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of GIS. RFG Advisory LLC raised its stake in shares of General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company's stock worth $425,000 after buying an additional 172 shares during the last quarter. TCW Group Inc. grew its holdings in General Mills by 0.8% during the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company's stock valued at $1,471,000 after buying an additional 194 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its holdings in General Mills by 3.7% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company's stock valued at $356,000 after purchasing an additional 197 shares in the last quarter. Howard Capital Management Inc. grew its stake in General Mills by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 3,916 shares of the company's stock worth $250,000 after acquiring an additional 198 shares during the period. Finally, Byrne Asset Management LLC grew its holdings in General Mills by 20.0% in the 4th quarter. Byrne Asset Management LLC now owns 1,200 shares of the company's stock valued at $77,000 after buying an additional 200 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at General Mills

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

General Mills Trading Down 1.8 %

Shares of General Mills stock traded down $1.09 on Tuesday, hitting $57.91. 1,003,531 shares of the company's stock traded hands, compared to its average volume of 4,391,865. The stock has a market capitalization of $31.92 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The firm's 50-day moving average price is $59.59 and its two-hundred day moving average price is $63.26. 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 (NYSE:GIS - Get Free Report) last issued 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 business 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%. General Mills's revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. On average, research analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.14%. General Mills's dividend payout ratio is 52.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler dropped 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Bank of America lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. Finally, TD Cowen decreased their price objective on shares of General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, December 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, General Mills presently has a consensus rating of "Hold" and an average price target of $65.69.

General Mills 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.