Mutual of America Capital Management LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Mutual of America Capital Management LLC trimmed its holdings in General Mills, Inc. (NYSE:GISFree Report) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 82,047 shares of the company’s stock after selling 2,590 shares during the period. Mutual of America Capital Management LLC’s holdings in General Mills were worth $5,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of General Mills by 0.5% in the 2nd quarter. BlackRock Inc. now owns 54,713,936 shares of the company’s stock valued at $4,196,559,000 after purchasing an additional 279,268 shares in the last quarter. State Street Corp grew its position in shares of General Mills by 0.7% in the 2nd quarter. State Street Corp now owns 33,076,744 shares of the company’s stock worth $2,536,986,000 after acquiring an additional 216,622 shares in the last quarter. Geode Capital Management LLC grew its position in shares of General Mills by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 11,594,011 shares of the company’s stock worth $887,334,000 after acquiring an additional 257,174 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of General Mills by 123,599.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after acquiring an additional 11,067,051 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in General Mills by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after purchasing an additional 75,902 shares during the period. 75.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIS. Royal Bank of Canada reduced 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. Mizuho cut their target price on General Mills from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, December 22nd. Evercore ISI cut their target price on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research report on Monday, December 11th. Piper Sandler dropped their price target on General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, December 15th. Finally, Stifel Nicolaus lowered their target price on General Mills from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, December 21st. Two investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.67.

Check Out Our Latest Analysis on GIS

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value 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 $20,523,044.52. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $62.34 on Monday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.36 and a current ratio of 0.64. The stock has a market capitalization of $35.40 billion, a PE ratio of 15.17, a P/E/G ratio of 2.18 and a beta of 0.16. The stock has a 50-day simple moving average of $64.73 and a 200 day simple moving average of $65.87.

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

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 annualized dividend and a yield of 3.79%. General Mills’s dividend payout ratio (DPR) is 57.42%.

About General Mills

(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.

See Also

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

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