abrdn plc Has $144.39 Million Holdings in General Mills, Inc. (NYSE:GIS)

abrdn plc raised its stake in General Mills, Inc. (NYSE:GIS) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,216,559 shares of the company’s stock after acquiring an additional 241,655 shares during the quarter. abrdn plc’s holdings in General Mills were worth $144,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. increased its position in General Mills by 12.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,220 shares of the company’s stock valued at $731,000 after acquiring an additional 1,229 shares in the last quarter. Kraft Davis & Associates LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $228,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of General Mills during the 4th quarter worth approximately $92,000. Greenleaf Trust grew its position in shares of General Mills by 9.2% during the 4th quarter. Greenleaf Trust now owns 22,818 shares of the company’s stock worth $1,486,000 after buying an additional 1,928 shares during the period. Finally, Davidson Trust Co. grew its position in shares of General Mills by 11.7% during the 4th quarter. Davidson Trust Co. now owns 4,008 shares of the company’s stock worth $261,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $72.00 price target on shares of General Mills in a research report on Thursday, March 21st. Bank of America lifted their price target on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. HSBC boosted their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Morgan Stanley boosted their price objective on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company boosted their price objective on shares of General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $72.18.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 7,671 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jonathon Nudi sold 7,671 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the transaction, the insider now directly owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The disclosure for this sale can be found here. Insiders have sold a total of 77,782 shares of company stock valued at $5,057,820 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

General Mills Stock Up 1.9 %

GIS traded up $1.33 during trading on Friday, reaching $70.42. The company had a trading volume of 3,992,289 shares, compared to its average volume of 4,141,963. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $90.89. The business’s fifty day moving average price is $66.85 and its 200 day moving average price is $65.30. The company has a market cap of $39.99 billion, a P/E ratio of 16.15, a PEG ratio of 2.38 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Equities analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 54.13%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.