General Mills, Inc. (NYSE:GIS) Shares Acquired by Pensionfund Sabic

Pensionfund Sabic increased its position in shares of General Mills, Inc. (NYSE:GIS) by 41.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,000 shares of the company’s stock after purchasing an additional 7,000 shares during the quarter. Pensionfund Sabic’s holdings in General Mills were worth $1,530,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares during the period. First City Capital Management Inc. increased its position in shares of General Mills by 9.9% in the fourth quarter. First City Capital Management Inc. now owns 3,837 shares of the company’s stock valued at $245,000 after buying an additional 347 shares in the last quarter. Everence Capital Management Inc. increased its holdings in General Mills by 4.3% in the 4th quarter. Everence Capital Management Inc. now owns 18,500 shares of the company’s stock worth $1,180,000 after acquiring an additional 770 shares in the last quarter. Modus Advisors LLC purchased a new position in General Mills during the fourth quarter valued at $55,000. Finally, GAMMA Investing LLC grew its position in shares of General Mills by 40.7% in the fourth quarter. GAMMA Investing LLC now owns 17,470 shares of the company’s stock valued at $1,114,000 after purchasing an additional 5,053 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,624 shares of company stock valued at $3,897,326 in the last ninety days. Company insiders own 0.26% of the company’s stock.

General Mills Trading Down 2.1 %

Shares of NYSE:GIS traded down $1.37 during mid-day trading on Monday, reaching $62.51. 650,191 shares of the company were exchanged, compared to its average volume of 2,260,946. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 3.47 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm’s 50-day simple moving average is $65.27 and its 200 day simple moving average is $67.92.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Analyst Ratings Changes

Several research analysts recently weighed in on GIS shares. Stifel Nicolaus reduced their price target on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. TD Cowen decreased their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $71.56.

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.