General Mills, Inc. (NYSE:GIS) Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,473 shares of the company's stock after selling 63,055 shares during the period. Allspring Global Investments Holdings LLC's holdings in General Mills were worth $15,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC acquired a new position in General Mills during the 4th quarter worth $30,000. Perkins Coie Trust Co grew its holdings in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in General Mills during the 4th quarter worth $32,000. Transce3nd LLC acquired a new position in General Mills during the 4th quarter worth $32,000. Finally, Heck Capital Advisors LLC acquired a new position in General Mills during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group decreased their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Barclays decreased their price target on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, June 26th. Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Stifel Nicolaus decreased their price target on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Jefferies Financial Group lifted their price target on shares of General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $59.73.

General Mills Stock Performance

Shares of GIS traded down $0.70 during mid-day trading on Friday, reaching $53.13. 3,595,895 shares of the company's stock traded hands, compared to its average volume of 4,652,483. The business's 50-day moving average price is $53.93 and its 200-day moving average price is $57.87. The stock has a market capitalization of $28.82 billion and a P/E ratio of 12.96. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. General Mills, Inc. has a 12 month low of $50.19 and a 12 month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.59%. This is an increase from General Mills's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, July 10th. General Mills's payout ratio is 58.54%.

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 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.