Rodgers Brothers Inc. Has $11.04 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Rodgers Brothers Inc. boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,146 shares of the company’s stock after buying an additional 47,755 shares during the quarter. General Mills makes up approximately 1.4% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 13th largest position. Rodgers Brothers Inc.’s holdings in General Mills were worth $11,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIS. Norges Bank acquired a new position in shares of General Mills during the 4th quarter worth approximately $496,484,000. Nordea Investment Management AB boosted its position in General Mills by 64.5% during 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 during the period. JPMorgan Chase & Co. increased its holdings 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 last quarter. State Street Corp raised its position in shares of 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 purchasing an additional 2,867,678 shares during the period. Finally, Nepsis Inc. lifted its stake in shares of General Mills by 3,504.8% during the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after buying an additional 2,104,353 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Citigroup reduced their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. TD Cowen lowered their price objective 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. Finally, Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $65.69.

General Mills Price Performance

General Mills stock opened at $59.09 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The stock has a market capitalization of $32.57 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The stock has a fifty day moving average of $59.97 and a 200-day moving average of $64.61.

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

General Mills Dividend Announcement

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 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 4.06%. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is 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.