Canada Pension Plan Investment Board Has $78.31 Million Stake in General Mills, Inc. (NYSE:GIS)

Canada Pension Plan Investment Board lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,837 shares of the company’s stock after selling 208,610 shares during the quarter. Canada Pension Plan Investment Board owned about 0.22% of General Mills worth $78,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. Vanguard Group Inc. lifted its position in General Mills by 16.3% during 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 period. Capital Research Global Investors lifted its stake in General Mills by 22.3% during 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. Capital World Investors boosted its holdings in shares of General Mills by 7.6% in the 4th quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after purchasing an additional 501,717 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after purchasing an additional 148,235 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of General Mills by 7.4% during the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock worth $376,459,000 after buying an additional 369,628 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of GIS opened at $74.51 on Friday. The firm has a market cap of $41.59 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The business’s 50 day moving average price is $69.92 and its two-hundred day moving average price is $68.51.

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

General Mills Increases Dividend

The company 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. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. General Mills’s payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GIS shares. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen increased their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday. Finally, Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.73.

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.