Citigroup Inc. Trims Stock Position in General Mills, Inc. $GIS

Citigroup Inc. decreased its stake in General Mills, Inc. (NYSE:GIS) by 7.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 575,503 shares of the company’s stock after selling 43,390 shares during the quarter. Citigroup Inc. owned approximately 0.11% of General Mills worth $29,017,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of General Mills during the 2nd quarter worth approximately $417,508,000. Worldquant Millennium Advisors LLC purchased a new stake in General Mills during the second quarter worth $84,862,000. Diamond Hill Capital Management Inc. grew its position in General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after buying an additional 1,383,913 shares during the period. Nordea Investment Management AB grew its position in General Mills by 15.9% during the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after buying an additional 1,368,041 shares during the period. Finally, First Trust Advisors LP increased its holdings in General Mills by 67.8% in the second quarter. First Trust Advisors LP now owns 2,213,506 shares of the company’s stock valued at $114,682,000 after buying an additional 894,633 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $48.15, for a total value of $72,225.00. Following the completion of the sale, the insider directly owned 48,568 shares in the company, valued at $2,338,549.20. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GIS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 target price on shares of General Mills in a research note on Thursday, December 18th. Jefferies Financial Group dropped their price objective on General Mills from $50.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Evercore set a $45.00 target price on General Mills in a research note on Wednesday, February 18th. Wells Fargo & Company decreased their target price on General Mills from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Finally, Morgan Stanley cut their price target on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.42.

General Mills Stock Down 2.0%

NYSE GIS opened at $44.50 on Thursday. The business has a fifty day moving average price of $45.93 and a 200 day moving average price of $47.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market cap of $23.74 billion, a P/E ratio of 9.57 and a beta of -0.06. General Mills, Inc. has a one year low of $42.78 and a one year high of $67.35.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 17th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.78 billion. General Mills had a net margin of 13.51% and a return on equity of 21.41%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.5%. General Mills’s dividend payout ratio is presently 52.47%.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.