Carmignac Gestion Acquires 2,638 Shares of General Mills, Inc. (NYSE:GIS)

Carmignac Gestion lifted its holdings in shares of General Mills, Inc. (NYSE:GISGet Rating) by 29.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,453 shares of the company’s stock after acquiring an additional 2,638 shares during the period. Carmignac Gestion’s holdings in General Mills were worth $864,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in General Mills by 6.9% during the 1st quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock valued at $3,285,257,000 after purchasing an additional 3,122,049 shares during the last quarter. First Trust Advisors LP lifted its holdings in General Mills by 162.5% during the 1st quarter. First Trust Advisors LP now owns 4,130,154 shares of the company’s stock valued at $279,694,000 after purchasing an additional 2,556,537 shares during the last quarter. Bank of America Corp DE lifted its holdings in General Mills by 15.6% during the 1st quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock valued at $421,700,000 after purchasing an additional 842,191 shares during the last quarter. State Street Corp lifted its holdings in General Mills by 2.3% during the 1st quarter. State Street Corp now owns 35,209,877 shares of the company’s stock valued at $2,384,413,000 after purchasing an additional 786,443 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in General Mills by 686.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 885,938 shares of the company’s stock valued at $66,844,000 after purchasing an additional 773,301 shares during the last quarter. 75.48% of the stock is owned by institutional investors.

General Mills Trading Up 0.7 %

Shares of NYSE:GIS traded up $0.61 during trading on Thursday, hitting $82.78. 2,379,305 shares of the company’s stock were exchanged, compared to its average volume of 3,881,492. The firm has a market cap of $49.13 billion, a P/E ratio of 17.43, a PEG ratio of 2.68 and a beta of 0.34. The firm has a 50-day moving average price of $78.31 and a two-hundred day moving average price of $75.00. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 0.78. General Mills, Inc. has a 1-year low of $61.41 and a 1-year high of $82.97.

General Mills (NYSE:GISGet Rating) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.72 billion. General Mills had a net margin of 15.13% and a return on equity of 23.87%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. Equities analysts predict that General Mills, Inc. will post 4.09 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, January 9th. General Mills’s dividend payout ratio is currently 45.47%.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 37,895 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the completion of the transaction, the chief executive officer now owns 279,482 shares in the company, valued at $22,358,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 37,895 shares of General Mills stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total value of $3,031,600.00. Following the transaction, the chief executive officer now owns 279,482 shares of the company’s stock, valued at $22,358,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn P. Ogrady sold 20,019 shares of General Mills stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $82.50, for a total transaction of $1,651,567.50. Following the completion of the transaction, the insider now directly owns 69,042 shares in the company, valued at approximately $5,695,965. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,708 shares of company stock worth $11,937,916. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GIS. BNP Paribas began coverage on shares of General Mills in a report on Tuesday, November 15th. They set an “outperform” rating and a $90.00 price target for the company. Piper Sandler raised their price objective on shares of General Mills from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, September 22nd. The Goldman Sachs Group raised their price objective on shares of General Mills from $64.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, October 10th. Credit Suisse Group raised their price objective on shares of General Mills from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, September 22nd. Finally, Exane BNP Paribas started coverage on shares of General Mills in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.20.

General Mills Company Profile

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General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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