Amalgamated Bank Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,222 shares of the company’s stock after selling 5,278 shares during the quarter. Amalgamated Bank’s holdings in General Mills were worth $7,226,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Vanguard Group Inc. lifted its stake in General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the last quarter. Capital Research Global Investors lifted its stake in General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. American Century Companies Inc. lifted its stake in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. lifted its stake in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the last quarter. Finally, Swedbank AB bought a new stake in General Mills in the first quarter worth about $36,177,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on GIS shares. Evercore ISI decreased their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Bank of America lifted their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.93.

General Mills Price Performance

NYSE GIS opened at $74.90 on Friday. The firm’s fifty day simple moving average is $69.69 and its two-hundred day simple moving average is $68.44. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The firm has a market capitalization of $41.81 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. General Mills’s payout ratio is 55.68%.

General Mills Company 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.