Amalgamated Bank Has $6.87 Million Stake in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 107,652 shares of the company’s stock after selling 2,035 shares during the period. Amalgamated Bank’s holdings in General Mills were worth $6,865,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladstone Institutional Advisory LLC grew its holdings in General Mills by 6.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after buying an additional 268 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in General Mills by 22.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after acquiring an additional 43,086 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. J2 Capital Management Inc purchased a new stake in shares of General Mills in the fourth quarter valued at about $547,000. Finally, Crossmark Global Holdings Inc. lifted its position in shares of General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after purchasing an additional 104,436 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Bank of America reduced their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Citigroup decreased their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.06.

General Mills Price Performance

NYSE GIS opened at $59.28 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market cap of $32.68 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm’s 50-day simple moving average is $60.63 and its two-hundred day simple moving average is $66.38.

General Mills (NYSE:GIS) last announced its quarterly 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. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the company posted $1.25 EPS. General Mills’s revenue was up 2.7% compared to the same quarter last year. Research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’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 completion of the transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was 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 accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.