New York Life Investment Management LLC Sells 1,040 Shares of General Mills, Inc. (NYSE:GIS)

New York Life Investment Management LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,103 shares of the company’s stock after selling 1,040 shares during the quarter. New York Life Investment Management LLC’s holdings in General Mills were worth $5,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Convergence Financial LLC raised its holdings in General Mills by 15.5% during the fourth quarter. Convergence Financial LLC now owns 4,318 shares of the company’s stock valued at $275,000 after acquiring an additional 578 shares during the period. Impact Investors Inc bought a new stake in General Mills during the fourth quarter valued at about $358,000. Sabal Trust CO raised its holdings in General Mills by 1.6% during the fourth quarter. Sabal Trust CO now owns 312,565 shares of the company’s stock valued at $19,932,000 after acquiring an additional 4,787 shares during the period. Lake Street Advisors Group LLC raised its holdings in General Mills by 17.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 5,602 shares of the company’s stock valued at $357,000 after acquiring an additional 844 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in General Mills by 32.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,566 shares of the company’s stock valued at $1,630,000 after acquiring an additional 6,203 shares during the period. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent analyst reports. Barclays decreased their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday. Mizuho reduced their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on General Mills from $64.00 to $61.00 and set an “equal weight” 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 assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $69.06.

General Mills Trading Up 1.1 %

GIS opened at $60.62 on Friday. The firm has a market cap of $33.42 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.94 and a beta of 0.10. 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 stock has a 50-day moving average of $60.49 and a 200 day moving average of $66.28.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate 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 return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 annualized dividend and a dividend yield of 3.96%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

General Mills 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.