Amalgamated Bank Reduces Position in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 114,222 shares of the company’s stock after selling 5,278 shares during the quarter. Amalgamated Bank’s holdings in General Mills were worth $7,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of General Mills by 16.3% during the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after buying an additional 8,444,312 shares during the last quarter. Capital Research Global Investors boosted its holdings in General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. Capital World Investors boosted its holdings in General Mills by 7.6% in the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after purchasing an additional 501,717 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in General Mills by 7.4% in the first quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after purchasing an additional 369,628 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.1 %

GIS opened at $74.90 on Friday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $69.69 and a 200 day moving average price of $68.44. The company has a market cap of $41.81 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is 55.68%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Barclays lowered their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Piper Sandler upped their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.93.

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.