Community Bank N.A. Trims Holdings in General Mills, Inc. (NYSE:GIS)

Community Bank N.A. cut its position in shares of General Mills, Inc. (NYSE:GIS) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,587 shares of the company’s stock after selling 1,465 shares during the quarter. Community Bank N.A.’s holdings in General Mills were worth $2,185,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mesirow Financial Investment Management Inc. raised its position in shares of General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the last quarter. Secure Asset Management LLC boosted its holdings in shares of General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. LCM Capital Management Inc grew its position in shares of General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after acquiring an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the 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 completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,555 shares of company stock valued at $4,721,336. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GIS. Citigroup upped their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group assumed coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Bank of America boosted their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Piper Sandler raised their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

Shares of NYSE GIS opened at $66.26 on Monday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The stock has a market capitalization of $36.78 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 3.44 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock’s fifty day simple moving average is $68.78 and its 200 day simple moving average is $68.47.

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

General Mills Dividend Announcement

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

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.