Te Ahumairangi Investment Management Ltd Buys 2,750 Shares of General Mills, Inc. (NYSE:GIS)

Te Ahumairangi Investment Management Ltd lifted its position in General Mills, Inc. (NYSE:GIS) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,863 shares of the company’s stock after purchasing an additional 2,750 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in General Mills were worth $4,774,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC grew its holdings in General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after buying an additional 268 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. J2 Capital Management Inc purchased a new position in shares of General Mills in the fourth quarter valued at $547,000. O Shaughnessy Asset Management LLC increased its position in General Mills by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock worth $53,211,000 after purchasing an additional 85,612 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in General Mills by 15.7% during the fourth 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 in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Down 0.1 %

NYSE GIS opened at $59.70 on Wednesday. The stock has a market cap of $32.91 billion, a PE ratio of 12.98, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The company’s 50-day moving average price is $59.96 and its 200-day moving average price is $64.42. 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 (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 4.02%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is 52.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GIS. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Piper Sandler reduced their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Mizuho decreased their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.69.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated 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 sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.