Metis Global Partners LLC Boosts Position in General Mills, Inc. (NYSE:GIS)

Metis Global Partners LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,529 shares of the company’s stock after purchasing an additional 971 shares during the quarter. Metis Global Partners LLC’s holdings in General Mills were worth $2,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GIS. Nordea Investment Management AB raised its holdings in General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after buying an additional 3,058,414 shares during the period. JPMorgan Chase & Co. raised its holdings in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the period. State Street Corp grew its position in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nepsis Inc. grew its position in General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after acquiring an additional 2,104,353 shares in the last quarter. Finally, DDD Partners LLC acquired a new stake in General Mills in the fourth quarter valued at approximately $21,776,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $60.62 on Monday. The company has a market capitalization of $33.42 billion, a P/E ratio of 13.18, a PEG ratio of 1.94 and a beta of 0.10. The company has a 50-day simple moving average of $60.49 and a 200 day simple moving average of $66.23. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week 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.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

GIS has been the subject of several recent research reports. Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Barclays lowered their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.06.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate 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.