Meyer Handelman Co. Lowers Stock Holdings in General Mills, Inc. (NYSE:GIS)

Meyer Handelman Co. trimmed its stake in General Mills, Inc. (NYSE:GISGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,480 shares of the company’s stock after selling 800 shares during the period. Meyer Handelman Co.’s holdings in General Mills were worth $8,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in General Mills by 6.9% in the 1st quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock valued at $3,285,257,000 after buying an additional 3,122,049 shares during the period. State Street Corp raised its holdings in shares of General Mills by 2.3% in the 1st quarter. State Street Corp now owns 35,209,877 shares of the company’s stock valued at $2,384,413,000 after purchasing an additional 786,443 shares in the last quarter. Capital International Investors raised its holdings in shares of General Mills by 2.2% in the 1st quarter. Capital International Investors now owns 34,562,381 shares of the company’s stock valued at $2,340,594,000 after purchasing an additional 743,351 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of General Mills by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after purchasing an additional 75,902 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of General Mills by 15.6% in the 1st quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock valued at $421,700,000 after purchasing an additional 842,191 shares in the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 37,895 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total value of $3,031,600.00. Following the sale, the chief executive officer now directly owns 279,482 shares of the company’s stock, valued at approximately $22,358,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 37,895 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the sale, the chief executive officer now directly owns 279,482 shares of the company’s stock, valued at $22,358,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean N. Walker sold 29,489 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the sale, the insider now directly owns 89,989 shares in the company, valued at $6,749,175. The disclosure for this sale can be found here. Insiders have sold 96,317 shares of company stock valued at $7,429,156 in the last ninety days. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GIS shares. Bank of America boosted their price target on shares of General Mills from $74.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday. Credit Suisse Group boosted their price target on shares of General Mills from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Mills from $81.00 to $88.00 in a research note on Thursday. Piper Sandler boosted their price objective on shares of General Mills from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, UBS Group boosted their price objective on shares of General Mills from $79.00 to $82.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.83.

General Mills Stock Performance

NYSE:GIS traded down $1.62 during trading hours on Friday, hitting $79.16. 128,867 shares of the company were exchanged, compared to its average volume of 4,072,143. The stock has a market capitalization of $47.16 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.62 and a beta of 0.33. General Mills, Inc. has a 52-week low of $58.85 and a 52-week high of $81.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.60 and a quick ratio of 0.40. The company’s 50 day moving average price is $76.11 and its 200-day moving average price is $71.77.

General Mills (NYSE:GISGet Rating) last released its earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.72 billion. General Mills had a net margin of 15.13% and a return on equity of 23.87%. General Mills’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, research analysts forecast that General Mills, Inc. will post 4.06 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s dividend payout ratio (DPR) is currently 45.47%.

General Mills Company Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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