General Mills, Inc. (NYSE:GIS) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 12.0% in the fourth quarter, HoldingsChannel reports. The fund owned 209,730 shares of the company’s stock after purchasing an additional 22,474 shares during the period. Fisher Asset Management LLC’s holdings in General Mills were worth $13,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of GIS. Nordea Investment Management AB lifted its holdings in General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 2,926,232 shares during the period. State Street Corp lifted its holdings in 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 acquiring an additional 2,867,678 shares during the period. Nepsis Inc. lifted its holdings in General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after acquiring an additional 2,104,353 shares during the period. Finally, DDD Partners LLC acquired a new position in shares of General Mills during the 4th quarter worth approximately $21,776,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Up 2.4 %

Shares of GIS opened at $62.07 on Tuesday. 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 one year low of $55.15 and a one year high of $75.90. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.94 and a beta of 0.10. The stock has a 50 day moving average price of $60.46 and a 200 day moving average price of $66.18.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

GIS has been the subject of several research analyst reports. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Barclays reduced their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Finally, Mizuho reduced their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.06.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company 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.