Connor Clark & Lunn Investment Management Ltd. Has $2.11 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 89.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,571 shares of the company’s stock after selling 235,532 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in General Mills were worth $2,110,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of General Mills by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP grew its position in General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares during the last quarter. American Century Companies Inc. increased its stake in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of General Mills by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,560,066 shares of the company’s stock valued at $225,210,000 after purchasing an additional 76,074 shares during the period. Finally, abrdn plc increased its holdings in General Mills by 3.9% in the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after buying an additional 92,931 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GIS. Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Citigroup boosted their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Trading Up 0.8 %

Shares of NYSE GIS opened at $65.53 on Tuesday. 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 twelve month low of $61.47 and a twelve month high of $75.90. The company’s fifty day moving average is $69.46 and its 200-day moving average is $68.59. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 3.38 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. Equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is 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.