Victory Capital Management Inc. Sells 7,208 Shares of General Mills, Inc. (NYSE:GIS)

Victory Capital Management Inc. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 487,082 shares of the company’s stock after selling 7,208 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of General Mills worth $31,061,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Endeavor Private Wealth Inc. bought a new stake in shares of General Mills during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills during the 4th quarter worth $31,000. Planning Capital Management Corp lifted its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of General Mills during the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Mills during the 4th quarter worth $38,000. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GIS shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Citigroup lowered their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Piper Sandler lowered their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus lowered 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 note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $69.06.

General Mills Price Performance

Shares of NYSE GIS opened at $64.53 on Monday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company’s 50-day moving average is $60.33 and its 200 day moving average is $65.97. The stock has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. General Mills’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.