Pine Valley Investments Ltd Liability Co Buys 13,827 Shares of General Mills, Inc. (NYSE:GIS)

Pine Valley Investments Ltd Liability Co lifted its position in General Mills, Inc. (NYSE:GIS) by 32.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 56,392 shares of the company’s stock after acquiring an additional 13,827 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in General Mills were worth $3,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of General Mills by 64.5% in the 4th 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 during the last quarter. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 2,926,232 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of General Mills by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after acquiring an additional 263,188 shares during the last quarter. Finally, abrdn plc lifted its holdings in General Mills by 3.9% during the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after acquiring an additional 92,931 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.5 %

Shares of NYSE GIS opened at $61.32 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market cap of $33.80 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The business has a 50-day simple moving average of $60.81 and a two-hundred day simple moving average of $66.48.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 annualized dividend and a dividend yield of 3.91%. General Mills’s payout ratio is currently 52.17%.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho reduced their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced 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 report on Wednesday, December 18th. Barclays lowered their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Bank of America lowered their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.88.

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.