NEOS Investment Management LLC increased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,915 shares of the company's stock after purchasing an additional 8,610 shares during the quarter. NEOS Investment Management LLC's holdings in General Mills were worth $2,290,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of GIS. UniSuper Management Pty Ltd increased its stake in shares of General Mills by 32.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 50,147 shares of the company's stock valued at $3,198,000 after buying an additional 12,349 shares during the period. Elo Mutual Pension Insurance Co increased its position in General Mills by 16.6% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 57,423 shares of the company's stock valued at $3,662,000 after purchasing an additional 8,155 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of General Mills by 8.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,591 shares of the company's stock valued at $57,530,000 after purchasing an additional 73,867 shares in the last quarter. Korea Investment CORP lifted its position in shares of General Mills by 48.2% in the 4th quarter. Korea Investment CORP now owns 298,130 shares of the company's stock worth $19,012,000 after purchasing an additional 96,961 shares during the period. Finally, Tyler Stone Wealth Management increased its holdings in General Mills by 5.8% during the fourth quarter. Tyler Stone Wealth Management now owns 15,568 shares of the company's stock valued at $993,000 after buying an additional 851 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at General Mills
In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.
General Mills Stock Performance
GIS traded down $0.57 during trading on Wednesday, reaching $59.15. 1,103,835 shares of the company's stock were exchanged, compared to its average volume of 4,308,242. 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, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company's fifty day simple moving average is $59.96 and its 200-day simple moving average is $64.42. The stock has a market capitalization of $32.61 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.
General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.
General Mills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills's dividend payout ratio (DPR) is presently 52.75%.
Analysts Set New Price Targets
A number of analysts have weighed in on GIS shares. JPMorgan Chase & Co. lowered their target price on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Piper Sandler decreased their price objective 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. Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.69.
Check Out Our Latest Stock Report on General Mills
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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