1ST Source Bank Has $430,000 Stock Holdings in General Mills, Inc. (NYSE:GIS)

1ST Source Bank cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,748 shares of the company’s stock after selling 214 shares during the period. 1ST Source Bank’s holdings in General Mills were worth $430,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GIS. Nordea Investment Management AB boosted its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares during the period. JPMorgan Chase & Co. boosted its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares during the period. State Street Corp boosted its position in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. Nepsis Inc. lifted its position in shares of General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after purchasing an additional 2,104,353 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of General Mills in the 4th quarter worth approximately $80,994,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS stock opened at $61.01 on Tuesday. The firm has a market capitalization of $33.63 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The firm has a fifty day simple moving average of $60.09 and a two-hundred day simple moving average of $65.55. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 dividend yield of 3.93%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.71.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by 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.