General Mills, Inc. (NYSE:GIS) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in General Mills, Inc. (NYSE:GIS) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,288 shares of the company’s stock after acquiring an additional 78,282 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of General Mills worth $22,557,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. L.M. Kohn & Company raised its holdings in General Mills by 2.6% in the 3rd quarter. L.M. Kohn & Company now owns 6,034 shares of the company’s stock valued at $386,000 after acquiring an additional 155 shares during the last quarter. Traverso Chambers Private Wealth Management LLC grew its stake in shares of General Mills by 1.0% in the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock valued at $1,052,000 after buying an additional 156 shares during the period. TrueWealth Advisors LLC grew its stake in shares of General Mills by 4.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 3,837 shares of the company’s stock valued at $246,000 after buying an additional 158 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of General Mills by 4.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,170 shares of the company’s stock valued at $267,000 after buying an additional 160 shares during the period. Finally, Csenge Advisory Group boosted its position in shares of General Mills by 1.0% during the 3rd quarter. Csenge Advisory Group now owns 16,079 shares of the company’s stock worth $1,029,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $71.17 on Tuesday. The company has a 50-day simple moving average of $67.01 and a 200-day simple moving average of $65.39. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a market capitalization of $40.42 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.43 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.32%. General Mills’s dividend payout ratio (DPR) is 54.13%.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were 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 directly owns 318,483 shares in the company, valued at $20,523,044.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were 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 directly owns 318,483 shares in the company, valued at $20,523,044.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the transaction, the insider now owns 93,381 shares in the company, valued at $6,462,899.01. The disclosure for this sale can be found here. Insiders have sold a total of 77,782 shares of company stock worth $5,057,820 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $77.00 price target on shares of General Mills in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $72.00 price objective on shares of General Mills in a report on Thursday, March 21st. Bank of America raised their price objective on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. HSBC raised 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. Finally, Citigroup initiated coverage on shares of General Mills in a report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $72.18.

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.