1ST Source Bank Sells 214 Shares of General Mills, Inc. (NYSE:GIS)

1ST Source Bank trimmed its stake in General Mills, Inc. (NYSE:GIS) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 6,748 shares of the company’s stock after selling 214 shares during the quarter. 1ST Source Bank’s holdings in General Mills were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB grew its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. grew its position in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the last quarter. State Street Corp grew its position in General Mills by 9.4% during 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 during the last quarter. Nepsis Inc. grew its position in General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after acquiring an additional 2,104,353 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in General Mills during the fourth quarter valued at approximately $80,994,000. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho reduced their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Monday. Barclays dropped their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup dropped their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday. 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 company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $67.71.

General Mills Stock Performance

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

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

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.