150,834 Shares in General Mills, Inc. (NYSE:GIS) Acquired by OFI Invest Asset Management

OFI Invest Asset Management bought a new position in General Mills, Inc. (NYSE:GIS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,834 shares of the company’s stock, valued at approximately $9,289,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC grew its position in General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares during the last quarter. JPMorgan Chase & Co. increased its position in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc bought a new stake in General Mills during the 4th quarter valued at $547,000. Crossmark Global Holdings Inc. boosted its position in General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after acquiring an additional 104,436 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated 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 owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Barclays dropped their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Citigroup cut their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.06.

General Mills Trading Up 3.7 %

NYSE:GIS opened at $64.53 on Friday. The stock’s 50-day moving average is $60.33 and its two-hundred day moving average is $66.00. 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, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock has a market cap of $35.57 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.72%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

About General Mills

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.