General Mills, Inc. (NYSE:GIS) Shares Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,159 shares of the company’s stock after purchasing an additional 3,931 shares during the period. Cornercap Investment Counsel Inc.’s holdings in General Mills were worth $1,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Gladstone Institutional Advisory LLC increased its position in shares of General Mills by 6.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of General Mills by 105.2% in the third 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 period. J2 Capital Management Inc acquired a new stake in General Mills during the fourth quarter worth about $547,000. Daiwa Securities Group Inc. raised its stake in General Mills by 7.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock worth $4,652,000 after purchasing an additional 4,839 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in General Mills by 15.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock valued at $2,749,000 after purchasing an additional 5,853 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Mizuho decreased their target price on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Piper Sandler dropped 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. Bank of America lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Stifel Nicolaus decreased their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.69.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

General Mills Stock Down 1.0 %

GIS stock opened at $59.09 on Friday. The stock has a market cap of $32.57 billion, a P/E ratio of 12.85, a PEG ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The company’s 50 day moving average is $59.97 and its two-hundred day moving average is $64.74.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. Research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.06%. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

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.