General Mills, Inc. (NYSE:GIS) Shares Sold by Community Bank N.A.

Community Bank N.A. cut its stake in General Mills, Inc. (NYSE:GIS) by 3.0% during the 4th quarter, HoldingsChannel reports. The fund owned 28,687 shares of the company’s stock after selling 900 shares during the period. Community Bank N.A.’s holdings in General Mills were worth $1,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the period. American Century Companies Inc. raised its holdings in shares of General Mills by 13.3% during the fourth quarter. American Century Companies Inc. now owns 5,731,471 shares of the company’s stock worth $365,496,000 after purchasing an additional 670,642 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the period. Finally, Amundi raised its holdings in shares of General Mills by 9.7% during the fourth quarter. Amundi now owns 4,082,376 shares of the company’s stock worth $248,902,000 after purchasing an additional 360,368 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS opened at $58.78 on Friday. The firm has a 50-day moving average price of $60.00 and a 200 day moving average price of $65.23. The firm has a market capitalization of $32.40 billion, a PE ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the company earned $1.17 EPS. General Mills’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GIS shares. TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Bank of America dropped their target price on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday. Mizuho dropped their target price on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group upped their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Piper Sandler lowered their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.53.

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.