Wilmington Savings Fund Society FSB Cuts Stake in General Mills, Inc. (NYSE:GIS)

Wilmington Savings Fund Society FSB cut its holdings in General Mills, Inc. (NYSE:GIS) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,846 shares of the company’s stock after selling 9,641 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in General Mills were worth $1,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB lifted its holdings in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $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 acquiring an additional 2,926,232 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Finally, abrdn plc grew its position in shares of General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after buying an additional 92,931 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Down 0.6 %

GIS stock opened at $58.86 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90. The company’s 50-day simple moving average is $62.31 and its 200-day simple moving average is $67.14. The firm has a market cap of $32.45 billion, a P/E ratio of 12.80, a PEG ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. General Mills’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GIS shares. Citigroup dropped their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus lowered their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, January 24th. TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.94.

Insider Activity

In other General Mills news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.