Cibc World Markets Corp Has $13.89 Million Position in General Mills, Inc. (NYSE:GIS)

Cibc World Markets Corp grew its stake in General Mills, Inc. (NYSE:GIS) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,781 shares of the company’s stock after acquiring an additional 28,020 shares during the quarter. Cibc World Markets Corp’s holdings in General Mills were worth $13,888,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GIS. State Street Corp increased its stake in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB grew its holdings 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 valued at $497,054,000 after buying an additional 3,058,414 shares during the period. JPMorgan Chase & Co. increased its position in shares of General Mills by 105.2% in the 3rd 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 in the last quarter. Amundi raised its stake in General Mills by 9.7% during the 4th quarter. Amundi now owns 4,082,376 shares of the company’s stock worth $248,902,000 after buying an additional 360,368 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in General Mills by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after buying an additional 207,346 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus lowered their price target on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Bank of America cut their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group raised 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. Finally, Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.71.

General Mills Stock Up 2.4 %

NYSE:GIS opened at $61.01 on Tuesday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. 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 stock’s 50 day moving average price is $60.09 and its two-hundred day moving average price is $65.55.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 yield of 3.93%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.