Keybank National Association OH Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Keybank National Association OH raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,793 shares of the company’s stock after purchasing an additional 1,122 shares during the period. Keybank National Association OH’s holdings in General Mills were worth $8,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. purchased a new position in General Mills during the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills during the fourth quarter valued at $31,000. Bank of Jackson Hole Trust purchased a new position in General Mills during the fourth quarter valued at $34,000. Planning Capital Management Corp lifted its holdings in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in General Mills during the fourth quarter valued at $38,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of GIS opened at $60.96 on Thursday. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The stock has a market cap of $33.60 billion, a PE ratio of 13.25, a P/E/G ratio of 1.94 and a beta of 0.10. The firm has a 50-day simple moving average of $60.35 and a two-hundred day simple moving average of $66.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’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 value 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. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GIS. TD Cowen reduced their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Stifel Nicolaus reduced their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 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 equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $69.06.

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.