Moors & Cabot Inc. cut its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,823 shares of the company’s stock after selling 1,335 shares during the period. Moors & Cabot Inc.’s holdings in General Mills were worth $2,594,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of GIS. Moneta Group Investment Advisors LLC increased its holdings in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after acquiring an additional 11,067,051 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 75,902 shares during the period. Morgan Stanley grew its holdings in General Mills by 14.6% during the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of General Mills by 101.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of General Mills by 99,497.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,302,586 shares of the company’s stock worth $406,708,000 after buying an additional 5,297,262 shares during the period. 75.31% of the stock is owned by institutional investors and hedge funds.
General Mills Price Performance
General Mills stock traded up $0.12 during trading hours on Thursday, hitting $64.81. 1,353,135 shares of the stock were exchanged, compared to its average volume of 3,751,168. The stock has a market capitalization of $37.67 billion, a P/E ratio of 15.78, a P/E/G ratio of 2.19 and a beta of 0.27. The business’s 50-day moving average is $64.52 and its two-hundred day moving average is $73.54. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.72. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $90.89.
General Mills Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, January 9th. General Mills’s payout ratio is presently 57.56%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of General Mills from $70.00 to $61.00 and set a “sell” rating for the company in a research report on Wednesday, September 20th. Wells Fargo & Company lowered their target price on General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, September 7th. Piper Sandler reduced 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, September 18th. HSBC began coverage on shares of General Mills in a research report on Friday, September 22nd. They set a “hold” rating and a $74.00 target price on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of General Mills from $78.00 to $76.00 and set a “sector perform” rating on the stock in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.94.
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 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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