General Mills, Inc. (NYSE:GIS) Shares Bought by Access Financial Services Inc.

Access Financial Services Inc. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,936 shares of the company’s stock after purchasing an additional 2,225 shares during the quarter. Access Financial Services Inc.’s holdings in General Mills were worth $1,168,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GIS. Moneta Group Investment Advisors LLC raised its position in shares of General Mills by 123,599.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after acquiring an additional 11,067,051 shares during the period. Norges Bank purchased a new position in shares of General Mills in the 4th quarter valued at about $382,081,000. Price T Rowe Associates Inc. MD raised its holdings in General Mills by 101.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after purchasing an additional 3,496,741 shares during the period. Nordea Investment Management AB grew its holdings in General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after purchasing an additional 1,654,111 shares during the period. Finally, Morgan Stanley increased its position in shares of General Mills by 14.6% in the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after buying an additional 1,051,169 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In other news, insider Jonathon Nudi sold 7,671 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the transaction, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Insiders sold a total of 77,782 shares of company stock worth $5,057,820 in the last 90 days. 0.24% of the stock is owned by insiders.

General Mills Price Performance

GIS stock opened at $69.95 on Friday. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The business’s 50-day moving average is $65.14 and its two-hundred day moving average is $64.82. The firm has a market capitalization of $39.72 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.40 and a beta of 0.15. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is 54.13%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GIS shares. Wells Fargo & Company increased their target price on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. TD Cowen lifted their target price on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Piper Sandler reduced their price target on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, December 15th. HSBC lifted their price objective on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Barclays increased their target price on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.18.

General Mills 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.