Cidel Asset Management Inc. Purchases 298 Shares of General Mills, Inc. (NYSE:GIS)

Cidel Asset Management Inc. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,723 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Cidel Asset Management Inc.’s holdings in General Mills were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted 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 worth $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 2,926,232 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after acquiring an additional 263,188 shares during the period. Finally, abrdn plc raised its position in General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after purchasing an additional 92,931 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.6 %

NYSE:GIS opened at $58.86 on Friday. The company has a market cap of $32.45 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 3.82 and a beta of 0.10. 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 stock’s fifty day moving average price is $62.31 and its two-hundred day moving average price is $67.12. General Mills, Inc. has a 52-week low of $57.94 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is 52.17%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GIS shares. Citigroup decreased their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen cut their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus reduced their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $70.94.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.