Ontario Teachers Pension Plan Board Sells 23,052 Shares of General Mills, Inc. (NYSE:GIS)

Ontario Teachers Pension Plan Board decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 58.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,336 shares of the company’s stock after selling 23,052 shares during the period. Ontario Teachers Pension Plan Board’s holdings in General Mills were worth $1,206,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GIS. American Century Companies Inc. increased its position in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares during the period. Wulff Hansen & CO. increased its position in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after buying an additional 930,271 shares during the period. Swedbank AB bought a new position in General Mills during the 1st quarter worth $36,177,000. International Assets Investment Management LLC increased its position in General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after buying an additional 443,202 shares during the period. Finally, Ilex Capital Partners UK LLP bought a new position in General Mills during the 1st quarter worth $29,199,000. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent analyst reports. TD Cowen raised their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Piper Sandler raised their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 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 report on Thursday, September 19th. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

Shares of GIS stock opened at $63.80 on Thursday. The firm has a market capitalization of $35.42 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 3.25 and a beta of 0.11. The business’s 50-day moving average price is $70.00 and its 200-day moving average price is $68.70. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.76%. General Mills’s payout ratio is currently 57.14%.

Insiders Place Their Bets

In other news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by corporate insiders.

General Mills Company Profile

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.