Sei Investments Co. Has $26.45 Million Holdings in General Mills, Inc. (NYSE:GIS)

Sei Investments Co. lifted its stake in General Mills, Inc. (NYSE:GIS) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 414,806 shares of the company’s stock after buying an additional 33,292 shares during the period. Sei Investments Co.’s holdings in General Mills were worth $26,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB grew its position in General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. grew its position in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares in the last quarter. State Street Corp increased its stake in General Mills by 9.4% during 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. raised its holdings in General Mills by 3,504.8% in the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of General Mills in the 4th quarter worth approximately $80,994,000. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GIS shares. Piper Sandler cut 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. Barclays dropped their price objective on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Stifel Nicolaus decreased 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. decreased their price objective on General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. One 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 stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $65.69.

General Mills Price Performance

General Mills stock opened at $57.75 on Wednesday. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm has a market cap of $31.83 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The business’s fifty day moving average is $59.95 and its two-hundred day moving average is $64.93.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue was down 5.1% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.16%. General Mills’s payout ratio is 52.75%.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.