King Luther Capital Management Corp Grows Stock Position in General Mills, Inc. (NYSE:GIS)

King Luther Capital Management Corp raised its position in General Mills, Inc. (NYSE:GIS) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,524 shares of the company’s stock after buying an additional 1,015 shares during the quarter. King Luther Capital Management Corp’s holdings in General Mills were worth $8,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. Nordea Investment Management AB increased its stake 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 worth $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 2,926,232 shares during the period. Amundi lifted its stake in shares of General Mills by 9.7% during the 4th quarter. Amundi now owns 4,082,376 shares of the company’s stock valued at $248,902,000 after buying an additional 360,368 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in General Mills by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after buying an additional 207,346 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler reduced their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Barclays decreased their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Bank of America lowered their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.24.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the 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 sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

General Mills Trading Down 4.8 %

GIS opened at $62.15 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The stock has a market cap of $34.26 billion, a PE ratio of 13.51, a PEG ratio of 1.94 and a beta of 0.06. The business has a 50 day moving average of $60.34 and a 200-day moving average of $65.87.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. Equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.86%. General Mills’s payout ratio is 52.17%.

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.