General Mills, Inc. (NYSE:GIS) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. boosted its stake in General Mills, Inc. (NYSE:GIS) by 169.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,420,267 shares of the company’s stock after purchasing an additional 892,459 shares during the period. Prudential Financial Inc.’s holdings in General Mills were worth $90,570,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills during the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Mills during the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills during the fourth quarter worth $31,000. VSM Wealth Advisory LLC purchased a new position in shares of General Mills in the fourth quarter valued at $32,000. Finally, Bank of Jackson Hole Trust purchased a new stake in General Mills during the 4th quarter worth $34,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.7 %

NYSE:GIS opened at $58.21 on Tuesday. 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 stock has a 50 day moving average of $59.97 and a 200-day moving average of $65.06. The firm has a market capitalization of $32.08 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.12%. General Mills’s dividend payout ratio is presently 52.75%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GIS. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. Jefferies Financial Group lifted their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Piper Sandler reduced their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.69.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company 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.