Amalgamated Bank Sells 2,035 Shares of General Mills, Inc. (NYSE:GIS)

Amalgamated Bank lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 107,652 shares of the company’s stock after selling 2,035 shares during the period. Amalgamated Bank’s holdings in General Mills were worth $6,865,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GIS. Gladstone Institutional Advisory LLC boosted its holdings in shares of General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares in the last quarter. Janney Montgomery Scott LLC grew its position in General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after acquiring an additional 43,086 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 2,926,232 shares in the last quarter. J2 Capital Management Inc purchased a new position in General Mills in the 4th quarter worth $547,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of General Mills by 129.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of General Mills stock opened at $59.28 on Thursday. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The firm has a market capitalization of $32.68 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.94 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $60.63 and a two-hundred day simple moving average of $66.38.

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 analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. General Mills’s payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

GIS has been the topic of several analyst reports. Barclays decreased their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America cut their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their price target on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Mizuho cut their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.06.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.