OVERSEA CHINESE BANKING Corp Ltd Increases Holdings in General Mills, Inc. (NYSE:GIS)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in General Mills, Inc. (NYSE:GIS) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,441 shares of the company’s stock after acquiring an additional 8,565 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of General Mills worth $21,837,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills during the fourth quarter worth $31,000. Bank of Jackson Hole Trust bought a new position in General Mills during the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Mills in the fourth quarter valued at $38,000. 75.71% of the stock is owned by institutional investors.

Insider Activity at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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 approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction 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. The trade was a 3.12 % 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 corporate insiders.

General Mills Stock Performance

Shares of GIS stock opened at $60.33 on Wednesday. The firm has a market cap of $33.25 billion, a price-to-earnings ratio of 13.11, a PEG 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 quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average is $60.08 and its 200 day moving average is $65.47.

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

General Mills Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.98%. General Mills’s dividend payout ratio is presently 52.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on GIS shares. Jefferies Financial Group upped their price target on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Wells Fargo & Company cut their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Monday. Finally, Piper Sandler lowered their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.53.

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.