JPMorgan Chase & Co. Boosts Stock Holdings in General Mills, Inc. (NYSE:GIS)

JPMorgan Chase & Co. grew its position in General Mills, Inc. (NYSE:GIS - Free Report) by 105.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,708,223 shares of the company's stock after acquiring an additional 2,926,232 shares during the period. JPMorgan Chase & Co. owned 1.04% of General Mills worth $421,552,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in General Mills by 7.9% during the second quarter. Principal Financial Group Inc. now owns 765,146 shares of the company's stock valued at $48,403,000 after acquiring an additional 56,231 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of General Mills during the second quarter valued at approximately $475,000. Concurrent Investment Advisors LLC raised its stake in shares of General Mills by 134.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,640 shares of the company's stock worth $1,053,000 after purchasing an additional 9,556 shares during the period. NBT Bank N A NY increased its stake in shares of General Mills by 168.0% during the 2nd quarter. NBT Bank N A NY now owns 37,523 shares of the company's stock worth $2,374,000 after purchasing an additional 23,523 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in General Mills by 1,290.7% in the second quarter. Van ECK Associates Corp now owns 94,055 shares of the company's stock worth $5,950,000 after buying an additional 87,292 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Up 0.3 %

General Mills stock traded up $0.19 during midday trading on Friday, hitting $63.95. 1,984,422 shares of the company's stock were exchanged, compared to its average volume of 3,955,573. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market cap of $35.25 billion, a PE ratio of 15.23, a P/E/G ratio of 3.41 and a beta of 0.10. The firm has a 50-day moving average of $65.77 and a two-hundred day moving average of $68.00.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company posted $1.25 earnings per share. General Mills's revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.75%. General Mills's dividend payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, September 19th. Wells Fargo & Company decreased their price target on shares of General Mills from $70.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Finally, Stifel Nicolaus reduced their target price on shares of General Mills from $82.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $71.56.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maria Sastre sold 1,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,624 shares of company stock valued at $3,897,326 over the last quarter. 0.26% of the stock is currently owned by 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.