General Mills, Inc. (NYSE:GIS) Stock Holdings Lessened by BNP Paribas

BNP Paribas lowered its stake in General Mills, Inc. (NYSE:GIS) by 77.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,150 shares of the company’s stock after selling 7,266 shares during the period. BNP Paribas’ holdings in General Mills were worth $159,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in shares of General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in General Mills by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares during the period. American Century Companies Inc. raised its stake 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 valued at $299,138,000 after purchasing an additional 2,368,563 shares during the period. Massachusetts Financial Services Co. MA raised 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 period. Finally, abrdn plc raised its stake in General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.4 %

Shares of NYSE:GIS opened at $66.23 on Thursday. The stock has a market capitalization of $36.77 billion, a PE ratio of 15.77, a P/E/G ratio of 3.41 and a beta of 0.11. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a fifty day moving average price of $69.12 and a 200 day moving average price of $68.54. 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 (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the company posted $1.09 earnings per share. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of several recent analyst reports. Barclays boosted their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Wells Fargo & Company cut their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. The Goldman Sachs Group started coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $72.67.

General Mills 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.