OVERSEA CHINESE BANKING Corp Ltd Sells 54,392 Shares of General Mills, Inc. (NYSE:GIS)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 14.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 333,876 shares of the company’s stock after selling 54,392 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Mills were worth $24,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in General Mills by 16.3% during the 1st 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 increased its holdings in shares of General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after acquiring an additional 2,488,341 shares during the period. Legal & General Group Plc increased its holdings in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after acquiring an additional 148,235 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of General Mills by 100.4% in the 2nd 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 period. 75.71% of the stock is owned by institutional investors.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents 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 at the SEC website. In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock worth $4,657,676 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

General Mills Price Performance

NYSE:GIS opened at $64.10 on Tuesday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The stock has a 50 day moving average of $71.60 and a two-hundred day moving average of $69.06. 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 cap of $35.59 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 3.37 and a beta of 0.11.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. On average, analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.74%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GIS shares. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Barclays lifted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Citigroup lifted their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Finally, Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $73.00.

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.