Financial Counselors Inc. Sells 706 Shares of General Mills, Inc. (NYSE:GIS)

Financial Counselors Inc. decreased its stake in General Mills, Inc. (NYSE:GIS) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 54,098 shares of the company’s stock after selling 706 shares during the period. Financial Counselors Inc.’s holdings in General Mills were worth $3,450,000 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. Vanguard Group Inc. grew its position in General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after purchasing an additional 1,868,508 shares during the last quarter. State Street Corp lifted its stake in shares of 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 buying an additional 2,867,678 shares during the period. Nordea Investment Management AB grew its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares in the last quarter. American Century Companies Inc. increased its stake in General Mills by 13.3% during the fourth quarter. American Century Companies Inc. now owns 5,731,471 shares of the company’s stock valued at $365,496,000 after acquiring an additional 670,642 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in General Mills by 105.2% in the 3rd 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 in the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler decreased their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Citigroup dropped their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Jefferies Financial Group lifted their target price on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, TD Cowen dropped their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and an average price target of $65.69.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 1.0 %

GIS opened at $59.65 on Friday. The firm has a 50-day moving average price of $59.98 and a two-hundred day moving average price of $64.86. The stock has a market capitalization of $32.88 billion, a PE ratio of 12.97, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.17 earnings per share. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

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.