General Mills, Inc. (NYSE:GIS) Shares Sold by Fmr LLC

Posted by Defense World Staff on Sep 4th, 2023

Fmr LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 25.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,367,637 shares of the company’s stock after selling 475,452 shares during the quarter. Fmr LLC owned 0.23% of General Mills worth $116,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its position in shares of General Mills by 123,599.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after purchasing an additional 11,067,051 shares during the last quarter. Norges Bank acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $382,081,000. Envestnet Asset Management Inc. grew its position in shares of General Mills by 627.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,536,513 shares of the company’s stock valued at $41,213,000 after purchasing an additional 3,050,525 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of General Mills by 341.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,438,344 shares of the company’s stock valued at $288,305,000 after purchasing an additional 2,659,821 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of General Mills by 14.6% in the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on GIS. Morgan Stanley lowered their price target on shares of General Mills from $77.00 to $72.00 in a research report on Thursday, June 29th. StockNews.com initiated coverage on shares of General Mills in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Stifel Nicolaus reduced their price objective on shares of General Mills from $95.00 to $86.00 in a research note on Thursday, June 29th. Bank of America reduced their price objective on shares of General Mills from $82.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 23rd. Finally, Piper Sandler reduced their price objective on shares of General Mills from $95.00 to $88.00 in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $81.89.

Get Our Latest Stock Analysis on General Mills

General Mills Price Performance

Shares of GIS stock opened at $66.25 on Monday. The firm has a market cap of $38.50 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.03 and a beta of 0.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.69 and a quick ratio of 0.40. General Mills, Inc. has a 1-year low of $65.90 and a 1-year high of $90.89. The firm has a fifty day moving average of $73.58 and a two-hundred day moving average of $80.38.

General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.59 dividend. The ex-dividend date was Friday, July 7th. This is an increase from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 3.56%. General Mills’s dividend payout ratio (DPR) is currently 54.76%.

General Mills Profile

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.