New York Life Investment Management LLC Sells 1,040 Shares of General Mills, Inc. (NYSE:GIS)

New York Life Investment Management LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,103 shares of the company’s stock after selling 1,040 shares during the period. New York Life Investment Management LLC’s holdings in General Mills were worth $5,363,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Convergence Financial LLC increased its position in General Mills by 15.5% during the 4th quarter. Convergence Financial LLC now owns 4,318 shares of the company’s stock valued at $275,000 after buying an additional 578 shares in the last quarter. Impact Investors Inc bought a new position in General Mills during the 4th quarter valued at approximately $358,000. Sabal Trust CO increased its position in General Mills by 1.6% during the 4th quarter. Sabal Trust CO now owns 312,565 shares of the company’s stock valued at $19,932,000 after buying an additional 4,787 shares in the last quarter. Lake Street Advisors Group LLC increased its position in General Mills by 17.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 5,602 shares of the company’s stock valued at $357,000 after buying an additional 844 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in General Mills by 32.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,566 shares of the company’s stock valued at $1,630,000 after buying an additional 6,203 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GIS shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. TD Cowen reduced their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Piper Sandler reduced their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday. Mizuho cut their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Barclays cut their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $69.06.

General Mills Stock Performance

GIS stock opened at $60.62 on Friday. The company has a market cap of $33.42 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The stock’s fifty day moving average price is $60.49 and its 200-day moving average price is $66.28.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. On average, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.96%. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

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.