Mackenzie Financial Corp Sells 79,082 Shares of General Mills, Inc. (NYSE:GIS)

Mackenzie Financial Corp trimmed its position in General Mills, Inc. (NYSE:GIS) by 14.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 458,451 shares of the company’s stock after selling 79,082 shares during the period. Mackenzie Financial Corp’s holdings in General Mills were worth $29,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after acquiring an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of General Mills during the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System raised its stake in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, iA Global Asset Management Inc. boosted its holdings in shares of General Mills by 92.5% in the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after buying an additional 23,411 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GIS. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Finally, Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.73.

General Mills Price Performance

NYSE:GIS opened at $74.38 on Friday. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The stock has a fifty day moving average of $70.90 and a 200 day moving average of $68.85. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market capitalization of $41.51 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. On average, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Insider Transactions at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.