General Mills, Inc. (NYSE:GIS) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in General Mills, Inc. (NYSE:GIS) by 13.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,731,471 shares of the company’s stock after acquiring an additional 670,642 shares during the quarter. American Century Companies Inc. owned approximately 1.04% of General Mills worth $365,496,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gladstone Institutional Advisory LLC grew its holdings in shares of General Mills by 6.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after buying an additional 268 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of General Mills by 105.2% during 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 in the last quarter. J2 Capital Management Inc purchased a new position in shares of General Mills during the fourth quarter valued at $547,000. Daiwa Securities Group Inc. grew its holdings in shares of General Mills by 7.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock valued at $4,652,000 after buying an additional 4,839 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of General Mills by 64.5% during 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. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

General Mills Price Performance

Shares of NYSE:GIS opened at $58.78 on Friday. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The business has a 50-day moving average of $60.00 and a two-hundred day moving average of $65.28. The stock has a market capitalization of $32.40 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06. 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 (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 4.08%. General Mills’s dividend payout ratio is presently 52.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GIS shares. Jefferies Financial Group lifted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Citigroup lowered their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Monday, March 17th. Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average price target of $66.53.

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.