Skandinaviska Enskilda Banken AB publ Has $12.80 Million Stake in General Mills, Inc. (NYSE:GIS)

Skandinaviska Enskilda Banken AB publ raised its holdings in General Mills, Inc. (NYSE:GIS) by 63.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 201,955 shares of the company’s stock after acquiring an additional 78,173 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in General Mills were worth $12,798,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

GIS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Mizuho reduced their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Piper Sandler reduced their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Barclays reduced their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Citigroup cut their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.71.

General Mills Stock Performance

Shares of NYSE GIS opened at $59.53 on Friday. The business has a fifty day simple moving average of $60.10 and a 200 day simple moving average of $65.70. 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 firm has a market capitalization of $32.82 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.03%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the 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 owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % 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.