Victory Capital Management Inc. Cuts Position in General Mills, Inc. (NYSE:GIS)

Victory Capital Management Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,082 shares of the company’s stock after selling 7,208 shares during the quarter. Victory Capital Management Inc.’s holdings in General Mills were worth $31,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp lifted its stake in shares of General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of General Mills by 64.5% in 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of General Mills by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after buying an additional 207,346 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after buying an additional 263,188 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other 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 value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

GIS opened at $64.53 on Monday. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. The company has a fifty day moving average of $60.33 and a 200 day moving average of $65.97. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two 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.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GIS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. Piper Sandler decreased their price target 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. Citigroup decreased their price target 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. Bank of America decreased their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, TD Cowen decreased their price target 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.06.

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.