Tidal Investments LLC Has $3.94 Million Stake in General Mills, Inc. (NYSE:GIS)

Tidal Investments LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 29.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,335 shares of the company’s stock after acquiring an additional 12,248 shares during the quarter. Tidal Investments LLC’s holdings in General Mills were worth $3,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. State Street Corp increased its position in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Legal & General Group Plc grew its stake in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after buying an additional 323,090 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares in the last quarter. American Century Companies Inc. raised its stake in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Insider Activity

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock worth $4,721,336 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the subject of several research analyst reports. Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $80.00 in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Citigroup raised their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler raised 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, September 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.00.

General Mills Trading Up 0.9 %

NYSE:GIS opened at $66.69 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 3.41 and a beta of 0.10. The business’s 50-day moving average price is $67.20 and its two-hundred day moving average price is $68.21. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is currently 57.14%.

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.