Skandinaviska Enskilda Banken AB publ Sells 251 Shares of General Mills, Inc. (NYSE:GIS)

Skandinaviska Enskilda Banken AB publ lessened its position in General Mills, Inc. (NYSE:GIS) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,495 shares of the company’s stock after selling 251 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in General Mills were worth $8,002,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 boosted its stake in shares of General Mills by 22.3% during the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares during the period. American Century Companies Inc. increased its holdings in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. raised its stake in General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after acquiring an additional 930,271 shares during the period. Finally, Swedbank AB acquired a new stake in General Mills during the 1st quarter valued at $36,177,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Down 0.5 %

GIS stock opened at $74.51 on Friday. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.90. The business has a 50-day simple moving average of $69.92 and a 200 day simple moving average of $68.54. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company 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 (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company 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 revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.60 dividend. This is a positive change 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 dividend payout ratio (DPR) is presently 55.68%.

Analyst Ratings Changes

GIS has been the topic of several research analyst reports. Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company raised 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 report on Friday, September 13th. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.73.

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.