Allspring Global Investments Holdings LLC Has $1.31 Million Stake in General Mills, Inc. $GIS

Allspring Global Investments Holdings LLC reduced its position in General Mills, Inc. (NYSE:GIS - Free Report) by 90.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,568 shares of the company's stock after selling 241,905 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in General Mills were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock valued at $1,138,473,000 after purchasing an additional 15,480,835 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock worth $589,814,000 after buying an additional 741,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of General Mills by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company's stock worth $428,213,000 after purchasing an additional 315,375 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Mills by 10.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock valued at $417,674,000 after buying an additional 634,393 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock worth $382,888,000 after purchasing an additional 414,768 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and cut their price objective for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. HSBC lowered their price target on General Mills from $59.00 to $57.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Barclays reduced their price target on shares of General Mills from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Friday, September 19th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $55.82.

General Mills Stock Performance

General Mills stock opened at $49.18 on Thursday. The company has a market capitalization of $26.23 billion, a PE ratio of 9.30, a P/E/G ratio of 1.22 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a fifty-two week low of $47.48 and a fifty-two week high of $69.03. The company has a 50 day moving average price of $49.61 and a 200-day moving average price of $52.13.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.General Mills's revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. General Mills's dividend payout ratio is currently 46.12%.

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.

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