General Mills, Inc. (NYSE:GIS) Position Raised by M&T Bank Corp

M&T Bank Corp raised its stake in General Mills, Inc. (NYSE:GIS) by 0.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 201,778 shares of the company’s stock after buying an additional 1,771 shares during the quarter. M&T Bank Corp’s holdings in General Mills were worth $12,867,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. lifted its stake in General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after buying an additional 148 shares during the last quarter. RFG Advisory LLC increased its stake in General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after buying an additional 172 shares during the period. Planning Capital Management Corp increased its stake in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. TCW Group Inc. increased its stake in General Mills by 0.8% during the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after buying an additional 194 shares during the period. Finally, Quadrant Private Wealth Management LLC increased its stake in General Mills by 3.7% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock valued at $356,000 after buying an additional 197 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIS shares. TD Cowen lowered their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Stock Performance

GIS stock opened at $60.96 on Thursday. 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 stock has a market cap of $33.60 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.94 and a beta of 0.10. The firm has a 50 day simple moving average of $60.35 and a 200 day simple moving average of $66.09. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

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. This represents a $2.40 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is presently 52.17%.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction 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 trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

General Mills Company 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.