NEOS Investment Management LLC Has $2.29 Million Position in General Mills, Inc. (NYSE:GIS)

NEOS Investment Management LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 31.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,915 shares of the company’s stock after acquiring an additional 8,610 shares during the period. NEOS Investment Management LLC’s holdings in General Mills were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Nordea Investment Management AB raised its position 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 purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 2,926,232 shares during the period. State Street Corp lifted its position in 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 acquiring an additional 2,867,678 shares during the last quarter. Nepsis Inc. boosted its holdings in shares of General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after acquiring an additional 2,104,353 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after purchasing an additional 1,868,508 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insiders Place Their Bets

In other 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 sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

General Mills Stock Down 1.0 %

GIS stock opened at $59.09 on Friday. The stock has a market capitalization of $32.57 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. 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 firm has a 50-day moving average price of $59.97 and a 200-day moving average price of $64.74. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company 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 of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.06%. General Mills’s dividend payout ratio is currently 52.75%.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Wells Fargo & Company dropped their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group increased their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Piper Sandler dropped their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.69.

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.