Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 103.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 58,047 shares of the company’s stock after purchasing an additional 29,476 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in General Mills were worth $3,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Mills during the 4th quarter valued at about $31,000. Bank of Jackson Hole Trust purchased a new stake in shares of General Mills during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of General Mills in the fourth quarter worth approximately $38,000. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of General Mills by 150.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 653 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Monday. TD Cowen reduced their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group upped their price target on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $67.71.

General Mills Stock Performance

Shares of NYSE GIS opened at $61.01 on Tuesday. The company has a market cap of $33.63 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm’s fifty day moving average is $60.09 and its two-hundred day moving average is $65.55.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

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.