PFG Investments LLC Has $1.22 Million Holdings in General Mills, Inc. (NYSE:GIS)

PFG Investments LLC grew its position in General Mills, Inc. (NYSE:GIS) by 7.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,193 shares of the company’s stock after purchasing an additional 1,398 shares during the period. PFG Investments LLC’s holdings in General Mills were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GIS. State Street Corp raised its position in shares of General Mills by 9.4% during the third 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 during the period. Nordea Investment Management AB grew its stake in shares of General Mills by 64.5% in the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 2,926,232 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 7.4% in 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 buying an additional 263,188 shares during the last quarter. Finally, abrdn plc lifted its holdings in General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Activity at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

General Mills Stock Up 2.1 %

NYSE GIS opened at $61.63 on Tuesday. The business’s 50-day moving average is $63.31 and its 200 day moving average is $67.45. The stock has a market capitalization of $33.97 billion, a PE ratio of 13.40, a PEG ratio of 3.70 and a beta of 0.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last released its earnings results 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 analysts’ expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Sell-side analysts forecast that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.89%. General Mills’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIS. Wells Fargo & Company decreased their price objective on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays cut their price objective 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. JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.94.

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.