General Mills, Inc. (NYSE:GIS) Shares Sold by James Investment Research Inc.

James Investment Research Inc. cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,955 shares of the company’s stock after selling 1,370 shares during the quarter. James Investment Research Inc.’s holdings in General Mills were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB grew its position in shares of General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after buying an additional 263,188 shares in the last quarter. Finally, abrdn plc grew its position in shares of General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after buying an additional 92,931 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GIS shares. Citigroup decreased their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Finally, Barclays decreased their target price on 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.13.

General Mills Trading Down 1.2 %

NYSE:GIS opened at $58.85 on Monday. 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 stock’s 50 day simple moving average is $61.61 and its 200-day simple moving average is $66.87. General Mills, Inc. has a 12-month low of $57.85 and a 12-month high of $75.90. The firm has a market cap of $32.44 billion, a P/E ratio of 12.79, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling

In other General Mills news, 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 completion of the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.