General Mills, Inc. (NYSE:GIS) Stake Reduced by Hancock Whitney Corp

Hancock Whitney Corp trimmed its stake in General Mills, Inc. (NYSE:GIS) by 9.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,409 shares of the company’s stock after selling 361 shares during the quarter. Hancock Whitney Corp’s holdings in General Mills were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. acquired a new stake in General Mills in the 3rd quarter valued at approximately $27,000. First Foundation Advisors increased its holdings in shares of General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Planning Capital Management Corp lifted its holdings in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the period. TruNorth Capital Management LLC acquired a new stake in General Mills in the second quarter worth about $38,000. Finally, Fairscale Capital LLC bought a new position in General Mills in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Bank of America increased their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $72.67.

General Mills Trading Up 0.4 %

General Mills stock opened at $66.23 on Thursday. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 3.41 and a beta of 0.11. The company has a 50 day moving average price of $69.12 and a 200 day moving average price of $68.54.

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

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by company insiders.

About General Mills

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.