General Mills, Inc. (NYSE:GIS) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 64.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,803,046 shares of the company's stock after purchasing an additional 3,058,414 shares during the period. Nordea Investment Management AB owned about 1.41% of General Mills worth $497,054,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GIS. Janney Montgomery Scott LLC boosted its holdings in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company's stock valued at $17,565,000 after buying an additional 43,086 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company's stock valued at $13,649,000 after purchasing an additional 104,436 shares during the period. Ellsworth Advisors LLC increased its position in General Mills by 105.8% during the third quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company's stock worth $10,697,000 after buying an additional 74,456 shares during the period. Finally, AQR Capital Management LLC lifted its stake in General Mills by 6.4% in the second quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company's stock valued at $73,206,000 after buying an additional 69,902 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,624 shares of company stock worth $3,897,326 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. Bank of America raised General Mills from a "neutral" rating to a "buy" rating and boosted their target price for the company from $78.00 to $80.00 in a report on Friday, December 13th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, September 19th. Citigroup dropped their price objective on shares of General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Finally, Barclays reduced their target price on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $71.56.

General Mills Price Performance

GIS traded down $2.37 during midday trading on Monday, reaching $61.51. 5,390,522 shares of the company's stock were exchanged, compared to its average volume of 3,983,768. The business's 50-day moving average price is $65.27 and its 200 day moving average price is $67.92. The stock has a market capitalization of $34.15 billion, a PE ratio of 14.65, a P/E/G ratio of 3.47 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.45 and a 1-year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results 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. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. General Mills's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.90%. General Mills's dividend payout ratio is currently 57.14%.

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.