Weaver Capital Management LLC Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Weaver Capital Management LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,392 shares of the company’s stock after selling 1,353 shares during the period. Weaver Capital Management LLC’s holdings in General Mills were worth $854,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp boosted its position 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 buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB boosted its position in 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 during the last quarter. JPMorgan Chase & Co. boosted its position in General Mills by 105.2% in 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 boosted its position in General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent research reports. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus decreased their price target on General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Wells Fargo & Company decreased their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus target price of $70.94.

General Mills Stock Down 1.5 %

NYSE GIS opened at $58.98 on Wednesday. The business has a fifty day moving average price of $62.87 and a 200 day moving average price of $67.30. General Mills, Inc. has a one year low of $57.94 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The company has a market cap of $32.51 billion, a P/E ratio of 12.82, a P/E/G ratio of 3.88 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. Research analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Insider Buying and Selling at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the stock in a transaction 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 transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the 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 transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.