AGF Investments LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,310 shares of the company’s stock after buying an additional 1,044 shares during the quarter. AGF Investments LLC’s holdings in General Mills were worth $677,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of General Mills by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 51,266,074 shares of the company’s stock worth $3,123,641,000 after acquiring an additional 151,280 shares in the last quarter. State Street Corp raised its position in shares of General Mills by 1.7% in the 2nd quarter. State Street Corp now owns 32,924,148 shares of the company’s stock worth $2,006,068,000 after acquiring an additional 553,497 shares in the last quarter. Capital International Investors raised its position in shares of General Mills by 8.3% in the 2nd quarter. Capital International Investors now owns 27,462,315 shares of the company’s stock worth $1,673,177,000 after acquiring an additional 2,114,798 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of General Mills by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,716,252 shares of the company’s stock worth $652,942,000 after acquiring an additional 42,120 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of General Mills by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,152,023 shares of the company’s stock worth $555,800,000 after acquiring an additional 203,293 shares in the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Sean N. Walker sold 4,894 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $62.76, for a total value of $307,147.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn P. Ogrady sold 47,306 shares of the business’s stock in a transaction that occurred on Wednesday, December 22nd. The stock was sold at an average price of $64.96, for a total value of $3,072,997.76. The disclosure for this sale can be found here. Insiders sold a total of 82,192 shares of company stock worth $5,437,448 in the last 90 days. Company insiders own 0.53% of the company’s stock.
General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, December 21st. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.06). General Mills had a net margin of 12.02% and a return on equity of 23.58%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm posted $1.06 EPS. General Mills’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Friday, December 10th will be paid a $0.51 dividend. The ex-dividend date is Friday, January 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. General Mills’s payout ratio is presently 56.20%.
A number of analysts recently commented on GIS shares. Royal Bank of Canada boosted their target price on General Mills from $65.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday, September 23rd. Credit Suisse Group boosted their target price on General Mills from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, December 22nd. Piper Sandler boosted their target price on General Mills from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, December 2nd. Morgan Stanley boosted their target price on General Mills from $51.00 to $56.00 in a research report on Tuesday. Finally, Zacks Investment Research lowered General Mills from a “buy” rating to a “hold” rating and set a $67.00 target price for the company. in a research report on Friday, November 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.80.
About General Mills
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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