General Mills, Inc. (NYSE:GIS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 12.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 325,080 shares of the company’s stock after selling 46,058 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in General Mills were worth $24,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its position in General Mills by 0.8% during the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after buying an additional 145 shares during the period. Deseret Mutual Benefit Administrators increased its position in General Mills by 4.9% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after buying an additional 151 shares during the period. Park Place Capital Corp increased its position in General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after buying an additional 156 shares during the period. Secure Asset Management LLC increased its position in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. Finally, LCM Capital Management Inc increased its position in General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.00.

General Mills Stock Down 0.7 %

Shares of NYSE:GIS opened at $68.58 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The stock’s fifty day simple moving average is $72.33 and its 200-day simple moving average is $69.19. The company has a market capitalization of $38.28 billion, a P/E ratio of 15.91, a P/E/G ratio of 3.71 and a beta of 0.10.

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

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.50%. General Mills’s payout ratio is currently 55.68%.

Insider Activity at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is currently owned by 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.