General Mills, Inc. (NYSE:GIS) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 169.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,420,267 shares of the company’s stock after buying an additional 892,459 shares during the quarter. Prudential Financial Inc. owned about 0.26% of General Mills worth $90,570,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after purchasing an additional 1,868,508 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 2,867,678 shares during the period. Nordea Investment Management AB boosted 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 valued at $497,054,000 after buying an additional 3,058,414 shares in the last quarter. American Century Companies Inc. grew its holdings in General Mills by 13.3% during the fourth quarter. American Century Companies Inc. now owns 5,731,471 shares of the company’s stock worth $365,496,000 after acquiring an additional 670,642 shares during the period. Finally, JPMorgan Chase & Co. raised 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 worth $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.7 %

Shares of NYSE GIS opened at $58.21 on Tuesday. The firm’s 50 day moving average price is $59.97 and its 200 day moving average price is $65.06. 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 firm has a market cap of $32.08 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.12%. General Mills’s dividend payout ratio is presently 52.75%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley initiated coverage on shares of General Mills in a research note on Monday. They set an “underweight” rating and a $53.00 price target on the stock. Stifel Nicolaus dropped 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. Mizuho decreased their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Piper Sandler dropped their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.69.

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.