QRG Capital Management Inc. Has $21.53 Million Stock Position in General Mills, Inc. (NYSE:GIS)

QRG Capital Management Inc. reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 337,615 shares of the company’s stock after selling 12,422 shares during the period. QRG Capital Management Inc.’s holdings in General Mills were worth $21,530,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new position in shares of General Mills during the fourth quarter valued at about $11,178,000. Oppenheimer Asset Management Inc. boosted its holdings in General Mills by 7.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,545 shares of the company’s stock worth $226,000 after purchasing an additional 252 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in General Mills by 3.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 44,337 shares of the company’s stock worth $2,827,000 after purchasing an additional 1,659 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in General Mills by 16.7% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 4,705 shares of the company’s stock worth $300,000 after purchasing an additional 673 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in General Mills by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 221,413 shares of the company’s stock worth $14,120,000 after purchasing an additional 3,700 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE GIS opened at $59.28 on Thursday. The company’s 50 day moving average is $60.63 and its 200-day moving average is $66.38. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market cap of $32.68 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GIS shares. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Stifel Nicolaus cut their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Barclays cut their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Piper Sandler cut their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.06.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

General Mills Company 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.