TIAA Trust National Association Sells 2,573 Shares of General Mills, Inc. (NYSE:GIS)

TIAA Trust National Association decreased its position in General Mills, Inc. (NYSE:GIS) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,538 shares of the company’s stock after selling 2,573 shares during the quarter. TIAA Trust National Association’s holdings in General Mills were worth $2,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Modern Wealth Management LLC increased its holdings in shares of General Mills by 17.4% during the fourth quarter. Modern Wealth Management LLC now owns 4,524 shares of the company’s stock worth $263,000 after buying an additional 672 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in General Mills during the 4th quarter worth approximately $194,000. Prudential Financial Inc. increased its holdings in General Mills by 169.1% during the 4th quarter. Prudential Financial Inc. now owns 1,420,267 shares of the company’s stock valued at $90,570,000 after purchasing an additional 892,459 shares in the last quarter. ICW Investment Advisors LLC raised its position in General Mills by 1.5% in the 4th quarter. ICW Investment Advisors LLC now owns 24,531 shares of the company’s stock valued at $1,564,000 after purchasing an additional 351 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in General Mills by 2.8% in 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. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS stock opened at $59.05 on Thursday. The firm has a market capitalization of $32.55 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average of $59.97 and a 200-day moving average of $64.89.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.17 EPS. General Mills’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed 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 yield of 4.06%. General Mills’s dividend payout ratio is currently 52.75%.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Mizuho reduced their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Finally, Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus price target of $65.69.

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.