J.Safra Asset Management Corp Acquires New Stake in General Mills, Inc. (NYSE:GIS)

J.Safra Asset Management Corp acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 913 shares of the company’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB boosted its stake in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in General Mills by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock valued at $255,385,000 after purchasing an additional 207,346 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in General Mills by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. Bank of America lowered their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Barclays decreased their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.06.

General Mills Trading Down 0.3 %

Shares of NYSE GIS opened at $60.96 on Thursday. The business’s 50 day moving average is $60.35 and its two-hundred day moving average is $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, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The stock has a market capitalization of $33.60 billion, a P/E ratio of 13.25, a PEG ratio of 1.94 and a beta of 0.10.

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

General Mills Dividend Announcement

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

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’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 $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

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.