Czech National Bank Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Czech National Bank raised its holdings in General Mills, Inc. (NYSE:GIS) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,389 shares of the company’s stock after purchasing an additional 5,808 shares during the quarter. Czech National Bank’s holdings in General Mills were worth $8,374,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GIS. Arkadios Wealth Advisors boosted its stake in shares of General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after acquiring an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of General Mills during the 4th quarter worth about $1,171,000. State Board of Administration of Florida Retirement System boosted its stake in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after acquiring an additional 96,712 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after acquiring an additional 23,411 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on GIS shares. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Mizuho reduced their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Finally, Piper Sandler upped their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $72.73.

General Mills Stock Down 1.1 %

Shares of NYSE GIS opened at $71.31 on Friday. The company has a 50 day simple moving average of $72.05 and a 200-day simple moving average of $69.15. The company has a market capitalization of $39.80 billion, a P/E ratio of 16.54, a P/E/G ratio of 3.82 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a 1 year low of $61.01 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.37%. General Mills’s payout ratio is currently 55.68%.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.