General Mills, Inc. (NYSE:GIS) Holdings Decreased by CNB Bank

CNB Bank lessened its stake in General Mills, Inc. (NYSE:GIS) by 34.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450 shares of the company’s stock after selling 238 shares during the period. CNB Bank’s holdings in General Mills were worth $29,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in General Mills by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 589,423 shares of the company’s stock worth $37,287,000 after acquiring an additional 35,680 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in General Mills by 3.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 240,598 shares of the company’s stock valued at $15,220,000 after acquiring an additional 7,602 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of General Mills by 19.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,548 shares of the company’s stock valued at $1,743,000 after purchasing an additional 4,551 shares in the last quarter. Blair William & Co. IL grew its stake in shares of General Mills by 0.5% in the 2nd quarter. Blair William & Co. IL now owns 131,257 shares of the company’s stock worth $8,303,000 after purchasing an additional 632 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of General Mills by 2.9% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 48,395 shares of the company’s stock worth $3,061,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.8 %

Shares of General Mills stock opened at $59.64 on Friday. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90. The company’s fifty day simple moving average is $63.88 and its 200-day simple moving average is $67.52. The company has a market cap of $32.88 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 3.65 and a beta of 0.11. 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 (NYSE:GIS) last posted its quarterly 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. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 4.42 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills’s dividend payout ratio (DPR) is 52.17%.

Insiders Place Their Bets

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was 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 in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,541 shares of company stock worth $3,321,170. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GIS. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays reduced their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.31.

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.