Affiance Financial LLC reduced its position in General Mills, Inc. (NYSE:GIS – Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,266 shares of the company’s stock after selling 570 shares during the quarter. Affiance Financial LLC’s holdings in General Mills were worth $1,171,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in General Mills by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,358,325 shares of the company’s stock valued at $951,206,000 after acquiring an additional 50,601 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of General Mills by 123,599.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after buying an additional 11,067,051 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of General Mills by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock worth $734,907,000 after buying an additional 75,902 shares in the last quarter. Morgan Stanley grew its position in shares of General Mills by 14.6% during the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock worth $691,725,000 after buying an additional 1,051,169 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of General Mills by 101.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after buying an additional 3,496,741 shares in the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.
General Mills Stock Performance
NYSE GIS traded down $0.59 on Monday, reaching $65.26. The stock had a trading volume of 1,212,548 shares, compared to its average volume of 3,496,258. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.40 and a current ratio of 0.69. General Mills, Inc. has a 12-month low of $64.70 and a 12-month high of $90.89. The business’s 50-day moving average price is $71.24 and its 200 day moving average price is $79.46. The stock has a market cap of $37.93 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 2.21 and a beta of 0.24.
General Mills Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, July 7th. This is a boost from General Mills’s previous quarterly dividend of $0.54. General Mills’s dividend payout ratio is 54.76%.
Analyst Ratings Changes
A number of brokerages have recently commented on GIS. Piper Sandler lowered their price objective on General Mills from $88.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday. Argus raised General Mills from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, July 14th. StockNews.com began coverage on General Mills in a research report on Thursday, August 17th. They set a “hold” rating for the company. BNP Paribas downgraded General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Tuesday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Mills from $82.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.21.
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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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