Alliancebernstein L.P. Has $44.42 Million Holdings in General Mills, Inc. (NYSE:GIS)

Alliancebernstein L.P. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 696,591 shares of the company’s stock after selling 7,764 shares during the period. Alliancebernstein L.P.’s holdings in General Mills were worth $44,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Gladstone Institutional Advisory LLC raised its holdings in shares of General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after purchasing an additional 268 shares during the period. O Shaughnessy Asset Management LLC raised its stake in General Mills by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock valued at $53,211,000 after buying an additional 85,612 shares during the period. JPMorgan Chase & Co. lifted its position 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 valued at $421,552,000 after buying an additional 2,926,232 shares during the last quarter. J2 Capital Management Inc bought a new position in shares of General Mills during the 4th quarter worth approximately $547,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of General Mills by 15.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock worth $2,749,000 after acquiring an additional 5,853 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of GIS stock opened at $59.64 on Friday. The business’s 50-day moving average price is $59.97 and its 200-day moving average price is $64.19. 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 $32.87 billion, a price-to-earnings ratio of 12.97, a PEG 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 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that General Mills, Inc. will post 4.36 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. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s payout ratio is 52.75%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIS. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft cut their target price 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. JPMorgan Chase & Co. decreased their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Stifel Nicolaus cut their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.69.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company 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.