Capital World Investors Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Capital World Investors reduced its holdings in shares of General Mills, Inc. (NYSE:GISGet Rating) by 0.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,856,122 shares of the company’s stock after selling 11,381 shares during the period. Capital World Investors’ holdings in General Mills were worth $1,073,777,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital International Sarl grew its stake in General Mills by 9.5% during the first quarter. Capital International Sarl now owns 102,167 shares of the company’s stock worth $6,919,000 after buying an additional 8,831 shares during the period. Capital International Investors lifted its position in shares of General Mills by 2.2% during the first quarter. Capital International Investors now owns 34,562,381 shares of the company’s stock worth $2,340,594,000 after purchasing an additional 743,351 shares in the last quarter. Magnolia Wealth Management LLC acquired a new position in shares of General Mills during the first quarter worth $1,126,000. BNP Paribas Arbitrage SA lifted its position in shares of General Mills by 34.0% during the first quarter. BNP Paribas Arbitrage SA now owns 686,495 shares of the company’s stock worth $46,489,000 after purchasing an additional 174,026 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in shares of General Mills during the first quarter worth $810,000. 75.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of General Mills from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Friday, July 1st. Piper Sandler upped their price target on shares of General Mills from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, June 30th. Credit Suisse Group set a $74.00 price target on shares of General Mills in a report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Mills from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Finally, Citigroup upped their price target on shares of General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.73.

General Mills Stock Up 0.1 %

Shares of NYSE:GIS opened at $74.42 on Thursday. The stock has a market capitalization of $44.33 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.33. General Mills, Inc. has a 1-year low of $57.47 and a 1-year high of $78.54. The company’s fifty day moving average is $75.98 and its two-hundred day moving average is $71.36. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63.

General Mills (NYSE:GISGet Rating) last released its quarterly earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.01 by $0.11. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.81 billion. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities analysts anticipate that General Mills, Inc. will post 3.99 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s dividend payout ratio is currently 48.87%.

Insider Transactions at General Mills

In other news, insider Jodi J. Benson sold 15,685 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares in the company, valued at $2,865,896.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Sean N. Walker sold 29,489 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the completion of the transaction, the insider now owns 89,989 shares in the company, valued at approximately $6,749,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi J. Benson sold 15,685 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares of the company’s stock, valued at approximately $2,865,896.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,422 shares of company stock worth $4,397,556. Insiders own 0.67% of the company’s stock.

General Mills Company Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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