Corebridge Financial Inc. Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Corebridge Financial Inc. lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,830 shares of the company’s stock after selling 6,740 shares during the quarter. Corebridge Financial Inc.’s holdings in General Mills were worth $11,468,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in General Mills by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock worth $3,325,000 after purchasing an additional 2,907 shares during the period. Nwam LLC bought a new stake in shares of General Mills in the third quarter worth $240,000. Kingsview Wealth Management LLC increased its position in General Mills by 9.2% during the third quarter. Kingsview Wealth Management LLC now owns 13,412 shares of the company’s stock valued at $990,000 after acquiring an additional 1,132 shares during the last quarter. Swedbank AB lifted its holdings in General Mills by 5.1% in the third quarter. Swedbank AB now owns 543,580 shares of the company’s stock valued at $40,143,000 after acquiring an additional 26,453 shares during the period. Finally, Larson Financial Group LLC boosted its position in General Mills by 134.2% in the third quarter. Larson Financial Group LLC now owns 4,476 shares of the company’s stock worth $331,000 after purchasing an additional 2,565 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $57.75 on Wednesday. The company has a market cap of $31.83 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm’s fifty day moving average is $59.95 and its two-hundred day moving average is $64.93.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given 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 4.16%. General Mills’s dividend payout ratio is currently 52.75%.

Analyst Ratings Changes

Several research firms have recently commented on GIS. Jefferies Financial Group upped their price target on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Bank of America dropped their price target on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Citigroup decreased their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.69.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

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.