Fmr LLC Has $118.52 Million Holdings in General Mills, Inc. (NYSE:GIS)

Fmr LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,858,595 shares of the company’s stock after purchasing an additional 153,825 shares during the period. Fmr LLC owned about 0.34% of General Mills worth $118,523,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GIS. Federated Hermes Inc. raised its position in shares of General Mills by 42.3% during the fourth quarter. Federated Hermes Inc. now owns 546,651 shares of the company’s stock worth $34,860,000 after acquiring an additional 162,495 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in General Mills by 590.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,531 shares of the company’s stock worth $544,000 after purchasing an additional 7,295 shares during the last quarter. Waterloo Capital L.P. boosted its stake in shares of General Mills by 10.7% in the 4th quarter. Waterloo Capital L.P. now owns 6,869 shares of the company’s stock valued at $438,000 after purchasing an additional 665 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of General Mills during the fourth quarter worth $3,507,000. Finally, Wedbush Securities Inc. raised its stake in General Mills by 11.3% during the fourth quarter. Wedbush Securities Inc. now owns 13,495 shares of the company’s stock worth $861,000 after buying an additional 1,374 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of GIS opened at $59.02 on Tuesday. The stock has a 50 day moving average of $59.59 and a 200 day moving average of $63.26. The company has a market capitalization of $32.53 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company 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 business posted $1.17 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.07%. General Mills’s payout ratio is 52.75%.

Insider Activity at General Mills

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

Analyst Ratings Changes

A number of analysts have weighed in on GIS shares. Barclays decreased their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Jefferies Financial Group raised their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Morgan Stanley assumed coverage on shares of General Mills in a research report on Monday, March 24th. They set an “underweight” rating and a $53.00 target price on the stock. Piper Sandler reduced their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their target price on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.69.

General Mills 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.