Massachusetts Financial Services Co. MA Increases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Massachusetts Financial Services Co. MA boosted its holdings in shares of General Mills, Inc. (NYSE:GISFree Report) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,664,308 shares of the company’s stock after purchasing an additional 150,318 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.29% of General Mills worth $106,499,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stratos Wealth Advisors LLC boosted its stake in shares of General Mills by 1.9% in the third quarter. Stratos Wealth Advisors LLC now owns 11,278 shares of the company’s stock worth $722,000 after acquiring an additional 213 shares during the last quarter. Adviser Investments LLC purchased a new stake in shares of General Mills in the third quarter valued at approximately $323,000. Ausdal Financial Partners Inc. grew its position in shares of General Mills by 3.3% in the second quarter. Ausdal Financial Partners Inc. now owns 13,306 shares of the company’s stock valued at $1,021,000 after purchasing an additional 421 shares in the last quarter. Jennison Associates LLC lifted its position in General Mills by 5.5% during the second quarter. Jennison Associates LLC now owns 74,965 shares of the company’s stock worth $5,750,000 after buying an additional 3,907 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in shares of General Mills by 0.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 182,324 shares of the company’s stock valued at $13,984,000 after acquiring an additional 510 shares during the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.

General Mills Price Performance

GIS stock opened at $63.71 on Thursday. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The firm has a market capitalization of $36.18 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.27 and a beta of 0.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.36. The business’s 50-day moving average is $64.76 and its two-hundred day moving average is $66.13.

General Mills (NYSE:GISGet Free Report) last issued its earnings results on Wednesday, December 20th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. General Mills had a net margin of 12.06% and a return on equity of 25.44%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.70%. General Mills’s payout ratio is currently 57.42%.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the sale, the insider now directly owns 102,924 shares in the company, valued at approximately $6,602,574.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIS. Bank of America reduced their target price on shares of General Mills from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, December 21st. Royal Bank of Canada lowered their price objective on General Mills from $74.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, December 21st. Citigroup started coverage on General Mills in a research note on Thursday, February 1st. They set a “neutral” rating and a $67.00 target price for the company. Evercore ISI decreased their price target on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research note on Monday, December 11th. Finally, Piper Sandler cut their price objective on General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.67.

View Our Latest Stock Analysis on General Mills

General Mills Company Profile

(Free Report)

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

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