General Mills, Inc. (NYSE:GIS) Holdings Trimmed by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. trimmed its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,265 shares of the company's stock after selling 23,980 shares during the period. Northwest & Ethical Investments L.P.'s holdings in General Mills were worth $5,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in General Mills by 105.2% during 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 in the last quarter. State Street Corp lifted its stake in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company's stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nepsis Inc. increased its holdings in General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock worth $138,023,000 after purchasing an additional 2,104,353 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of General Mills in the 4th quarter valued at approximately $80,994,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

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Analyst Ratings Changes

GIS has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley began coverage on shares of General Mills in a report on Monday. They set an "underweight" rating and a $53.00 price objective for the company. Barclays cut their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of "Hold" and an average target price of $65.69.

General Mills Stock Performance

NYSE GIS traded down $0.42 during trading hours on Tuesday, hitting $57.75. The company had a trading volume of 4,987,361 shares, compared to its average volume of 4,114,724. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market cap of $31.83 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The business has a fifty day simple moving average of $59.97 and a 200-day simple moving average of $65.06.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. General Mills's quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.16%. General Mills's payout ratio is 52.75%.

Insider Buying and Selling 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 shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

About General Mills

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.