Allspring Global Investments Holdings LLC Has $15.91 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Allspring Global Investments Holdings LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 19.1% during the first quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its stake in shares of General Mills by 7.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,545 shares of the company’s stock worth $226,000 after acquiring an additional 252 shares during the last quarter. Bailard Inc. grew its position in General Mills by 10.1% in the 4th quarter. Bailard Inc. now owns 9,036 shares of the company’s stock worth $576,000 after purchasing an additional 827 shares during the last quarter. SRS Capital Advisors Inc. grew its position in General Mills by 358.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,982 shares of the company’s stock worth $254,000 after purchasing an additional 3,114 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of General Mills during the 4th quarter worth about $611,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of General Mills by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,560,359 shares of the company’s stock valued at $227,044,000 after buying an additional 143,161 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 1.1%

GIS opened at $53.80 on Thursday. The firm’s fifty day moving average is $54.05 and its two-hundred day moving average is $58.09. The firm has a market cap of $29.18 billion and a PE ratio of 13.12. General Mills, Inc. has a twelve month low of $50.19 and a twelve month high of $75.90. 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 (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.54%. This is a positive change from General Mills’s previous quarterly dividend of $0.60. General Mills’s dividend payout ratio (DPR) is currently 52.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GIS. Barclays decreased their price objective on General Mills from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, June 26th. Wall Street Zen cut General Mills from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Citigroup lowered their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus cut their price objective on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Three investment 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.73.

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.