General Mills, Inc. (NYSE:GIS) Stock Position Lifted by Tidal Investments LLC

Tidal Investments LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 29.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,335 shares of the company’s stock after buying an additional 12,248 shares during the quarter. Tidal Investments LLC’s holdings in General Mills were worth $3,939,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GIS. State Street Corp raised its holdings in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Legal & General Group Plc increased its position in General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Mills by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after buying an additional 263,188 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GIS shares. Piper Sandler lifted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Stifel Nicolaus upped their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company cut their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen upped their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Buying and Selling

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock valued at $4,721,336 over the last three months. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of NYSE GIS opened at $66.69 on Friday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a market cap of $37.02 billion, a P/E ratio of 15.88, a P/E/G ratio of 3.41 and a beta of 0.10. The business’s 50 day moving average is $67.20 and its two-hundred day moving average is $68.21. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. On average, equities analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is presently 57.14%.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.