US Bancorp DE Cuts Stake in General Mills, Inc. (NYSE:GIS)

US Bancorp DE decreased its holdings in General Mills, Inc. (NYSE:GIS) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,898,313 shares of the company’s stock after selling 20,294 shares during the period. US Bancorp DE owned approximately 0.34% of General Mills worth $121,055,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GIS. Nordea Investment Management AB boosted its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares during the period. JPMorgan Chase & Co. boosted its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the period. State Street Corp boosted its position in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the period. Nepsis Inc. boosted its position in General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after buying an additional 2,104,353 shares during the period. Finally, DDD Partners LLC purchased a new stake in General Mills during the 4th quarter valued at $21,776,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GIS. Stifel Nicolaus dropped their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Piper Sandler dropped their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup dropped their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday, December 19th. Finally, Mizuho dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.06.

General Mills Trading Up 1.1 %

Shares of NYSE GIS opened at $60.62 on Friday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The stock has a market cap of $33.42 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The firm has a 50-day moving average of $60.49 and a 200 day moving average of $66.28. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.96%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

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.