Bessemer Group Inc. lowered its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 66.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,781 shares of the company’s stock after selling 89,184 shares during the period. Bessemer Group Inc.’s holdings in General Mills were worth $2,738,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Mills during the 4th quarter worth $31,000. Transce3nd LLC acquired a new stake in shares of General Mills in the 4th quarter worth $32,000. VSM Wealth Advisory LLC acquired a new stake in shares of General Mills in the 4th quarter worth $32,000. Finally, Perkins Coie Trust Co lifted its stake in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.
General Mills Stock Performance
Shares of GIS opened at $50.51 on Friday. The company has a 50-day simple moving average of $54.34 and a 200-day simple moving average of $58.36. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $27.84 billion, a PE ratio of 12.32, a P/E/G ratio of 1.26 and a beta of 0.02. General Mills, Inc. has a 52-week low of $50.19 and a 52-week high of $75.90.
General Mills Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.61 per share. This is an increase from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Thursday, July 10th. General Mills’s dividend payout ratio (DPR) is 52.75%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on GIS shares. Mizuho reduced their target price on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Jefferies Financial Group raised their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Finally, Royal Bank Of Canada upgraded shares of General Mills from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $67.00 to $63.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.50.
Check Out Our Latest Analysis on GIS
General Mills 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.
Further Reading
- Five stocks we like better than General Mills
- Growth Stocks: What They Are, What They Are Not
- EA Just Caught a Monster Upgrade: Bullish Breakout Ahead?
- 3 Warren Buffett Stocks to Buy Now
- 3 Stocks Hitting All-Time Highs With More Room to Run
- Following Congress Stock Trades
- QuantumScape Soars 30%: What Drove the Next-Gen EV Stock’s Rally
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS – Free Report).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.