General Mills, Inc. (NYSE:GIS) Stock Position Decreased by Pensionfund Sabic

Pensionfund Sabic decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 15.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 17,000 shares of the company’s stock after selling 3,000 shares during the period. Pensionfund Sabic’s holdings in General Mills were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors grew its stake in General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after buying an additional 2,488,341 shares during the last quarter. Legal & General Group Plc increased its position in General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 148,235 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of General Mills by 7.4% during the first quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after acquiring an additional 369,628 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.6 %

GIS stock opened at $72.07 on Thursday. The firm has a market cap of $40.23 billion, a PE ratio of 16.72, a P/E/G ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 12 month low of $61.01 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $69.15.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is presently 55.68%.

Insiders Place Their Bets

In other news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GIS. Citigroup increased their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Stifel Nicolaus increased their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Piper Sandler lifted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, TD Cowen increased their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average target price of $72.73.

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.