General Mills, Inc. (NYSE:GIS) Position Lessened by abrdn plc

abrdn plc lowered its position in General Mills, Inc. (NYSE:GIS) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,386,696 shares of the company’s stock after selling 106,222 shares during the quarter. abrdn plc’s holdings in General Mills were worth $151,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. J2 Capital Management Inc acquired a new stake in General Mills in the 4th quarter worth approximately $547,000. Crossmark Global Holdings Inc. grew its holdings in General Mills by 129.9% during the third 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 last quarter. Finally, Nordea Investment Management AB raised its position in shares of General Mills by 64.5% in the fourth 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 period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GIS shares. Stifel Nicolaus decreased their price target on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a report on Friday, January 24th. Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. One equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.94.

General Mills Price Performance

General Mills stock opened at $59.91 on Tuesday. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90. The firm has a market capitalization of $33.02 billion, a P/E ratio of 13.02, a PEG ratio of 3.88 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average of $62.99 and a 200-day moving average of $67.34.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is presently 52.17%.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.