Amundi Buys 360,368 Shares of General Mills, Inc. (NYSE:GIS)

Amundi boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,082,376 shares of the company’s stock after buying an additional 360,368 shares during the quarter. Amundi owned approximately 0.74% of General Mills worth $248,902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Principal Financial Group Inc. increased its position in General Mills by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 792,993 shares of the company’s stock valued at $58,563,000 after purchasing an additional 27,847 shares during the period. Fiera Capital Corp increased its position in General Mills by 8.7% during the 3rd quarter. Fiera Capital Corp now owns 6,745 shares of the company’s stock valued at $498,000 after purchasing an additional 540 shares during the period. CWA Asset Management Group LLC purchased a new position in General Mills during the 3rd quarter valued at about $286,000. Verdence Capital Advisors LLC increased its position in General Mills by 70.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 24,233 shares of the company’s stock valued at $1,790,000 after purchasing an additional 9,978 shares during the period. Finally, Assetmark Inc. increased its position in General Mills by 1.8% during the 3rd quarter. Assetmark Inc. now owns 563,390 shares of the company’s stock valued at $41,606,000 after purchasing an additional 9,722 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 3.7 %

NYSE:GIS opened at $64.53 on Monday. The company has a market cap of $35.57 billion, a PE ratio of 14.03, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a twelve month low of $55.15 and a twelve 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. The company’s 50 day moving average is $60.33 and its two-hundred day moving average is $65.97.

General Mills (NYSE:GIS) last announced 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 net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

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

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GIS shares. Wells Fargo & Company cut their target price on shares of 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. Mizuho cut their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Piper Sandler cut their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on shares of 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, Citigroup cut their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. One equities 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.06.

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.