Federated Hermes Inc. Has $25.04 Million Holdings in General Mills, Inc. (NYSE:GIS)

Federated Hermes Inc. reduced its position in General Mills, Inc. (NYSE:GIS) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,416 shares of the company’s stock after selling 38,764 shares during the period. Federated Hermes Inc. owned about 0.07% of General Mills worth $25,041,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its stake 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 worth $928,723,000 after acquiring an additional 11,067,051 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $734,907,000 after acquiring an additional 75,902 shares in the last quarter. Morgan Stanley boosted its stake in shares of General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock worth $691,725,000 after acquiring an additional 1,051,169 shares in the last quarter. Northern Trust Corp boosted its stake in shares of General Mills by 5.0% during the 3rd quarter. Northern Trust Corp now owns 7,995,118 shares of the company’s stock worth $511,608,000 after acquiring an additional 379,702 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of General Mills by 101.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after acquiring an additional 3,496,741 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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. In the last ninety days, insiders sold 77,782 shares of company stock valued at $5,057,820. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several recent analyst reports. HSBC upped their price target on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Wells Fargo & Company upped their price target on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. TD Cowen increased their target price on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Morgan Stanley increased their target price on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus increased their target price on General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.18.

General Mills Price Performance

Shares of GIS stock opened at $70.42 on Monday. The stock has a 50 day moving average of $66.85 and a two-hundred day moving average of $65.33. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $90.89. The company has a market capitalization of $39.99 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.43 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company earned $0.97 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.35%. General Mills’s payout ratio is presently 54.13%.

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.