SBI Securities Co. Ltd. Takes Position in General Mills, Inc. (NYSE:GIS)

SBI Securities Co. Ltd. acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,584 shares of the company's stock, valued at approximately $611,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. bought a new position in General Mills during the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Mills in the 4th quarter valued at $31,000. Bank of Jackson Hole Trust bought a new position in shares of General Mills during the 4th quarter valued at $34,000. Planning Capital Management Corp raised its position in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after purchasing an additional 193 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in General Mills in the fourth quarter worth $38,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Up 3.7 %

GIS stock traded up $2.31 during trading on Friday, reaching $64.53. The company had a trading volume of 8,966,679 shares, compared to its average volume of 3,922,882. 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 52 week low of $55.15 and a 52 week high of $75.90. The business has a 50 day moving average of $60.33 and a 200 day moving average of $66.03. The company has a market cap of $35.57 billion, a P/E ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06.

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General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The business's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIS. Bank of America reduced their price objective on General Mills from $78.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler reduced their price target on General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Barclays cut their target price 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. Finally, TD Cowen lowered their price target 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 investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills currently has an average rating of "Hold" and an average target price of $69.06.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were 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 approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

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.