General Mills, Inc. (NYSE:GIS) Stock Holdings Lifted by Studio Investment Management LLC

Studio Investment Management LLC lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,889 shares of the company’s stock after buying an additional 916 shares during the period. General Mills accounts for approximately 1.0% of Studio Investment Management LLC’s holdings, making the stock its 27th biggest position. Studio Investment Management LLC’s holdings in General Mills were worth $4,718,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of General Mills by 6.1% during 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 period. Dimensional Fund Advisors LP lifted its stake in General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after buying an additional 148,235 shares during the last quarter. American Century Companies Inc. lifted its stake in General Mills by 100.4% in the second 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. Massachusetts Financial Services Co. MA grew its position in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after acquiring an additional 92,931 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $64.08 on Friday. The business has a fifty day simple moving average of $69.82 and a 200-day simple moving average of $68.66. The firm has a market cap of $35.57 billion, a PE ratio of 15.26, a P/E/G ratio of 3.26 and a beta of 0.11. 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, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the business posted $1.09 EPS. General Mills’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GIS. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company lowered their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. The Goldman Sachs Group assumed coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, Bank of America lifted their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.67.

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.