Fmr LLC Raises Stock Position in General Mills, Inc. (NYSE:GIS)

Fmr LLC boosted its position in General Mills, Inc. (NYSE:GIS) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,858,595 shares of the company’s stock after purchasing an additional 153,825 shares during the quarter. Fmr LLC’s holdings in General Mills were worth $118,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new stake in General Mills in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Mills during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills in the fourth quarter worth $31,000. VSM Wealth Advisory LLC purchased a new position in General Mills in the fourth quarter worth $32,000. Finally, Bank of Jackson Hole Trust bought a new position in General Mills in the fourth quarter valued at $34,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 1.8 %

Shares of NYSE GIS opened at $59.02 on Tuesday. The firm has a fifty day simple moving average of $59.59 and a two-hundred day simple moving average of $63.26. 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. The firm has a market capitalization of $32.53 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 EPS. Equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GIS shares. Morgan Stanley began coverage on General Mills in a report on Monday, March 24th. They issued an “underweight” rating and a $53.00 price objective for the company. Citigroup reduced their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Jefferies Financial Group boosted their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Finally, 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $65.69.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.