General Mills, Inc. (NYSE:GIS) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its holdings in shares of General Mills, Inc. (NYSE:GISFree 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 (NYSE:GISGet Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

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

(Free Report)

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

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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