Retirement Guys Formula LLC Purchases 1,042 Shares of General Mills, Inc. (NYSE:GIS)

Retirement Guys Formula LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 9.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,781 shares of the company’s stock after buying an additional 1,042 shares during the quarter. Retirement Guys Formula LLC’s holdings in General Mills were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in General Mills by 9.4% during the 3rd 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 during the period. Nordea Investment Management AB grew its holdings in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after purchasing an additional 92,931 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of several analyst reports. Citigroup reduced their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Mizuho reduced their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday. TD Cowen reduced their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays reduced their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. One investment 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’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and an average target price of $71.13.

General Mills Stock Performance

Shares of GIS stock opened at $59.37 on Wednesday. The business’s 50-day moving average price is $62.13 and its 200-day moving average price is $67.09. General Mills, Inc. has a 12 month low of $57.85 and a 12 month high of $75.90. The firm has a market capitalization of $32.72 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.82 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.04%. General Mills’s dividend payout ratio (DPR) is 52.17%.

Insider Transactions at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.