Allspring Global Investments Holdings LLC Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Allspring Global Investments Holdings LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 325,080 shares of the company’s stock after selling 46,058 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of General Mills worth $24,007,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GIS. Capital Advisors Ltd. LLC increased its position in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC increased its position in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. GoalVest Advisory LLC grew its holdings in General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after buying an additional 180 shares in the last quarter. First Foundation Advisors grew its holdings in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in General Mills in the 1st quarter valued at $35,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIS has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Citigroup upped their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Evercore ISI dropped their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, Mizuho lowered their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus price target of $73.00.

Insider Activity

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is currently owned by company insiders.

General Mills Stock Performance

Shares of General Mills stock opened at $68.58 on Thursday. The business has a 50-day moving average of $72.33 and a 200 day moving average of $69.19. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The stock has a market capitalization of $38.28 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business posted $1.09 EPS. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is presently 55.68%.

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.