Huntington National Bank decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,293 shares of the company’s stock after selling 780 shares during the period. Huntington National Bank’s holdings in General Mills were worth $3,532,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Financial Partners Inc. raised its stake in shares of General Mills by 0.7% in the first quarter. Pinnacle Financial Partners Inc. now owns 26,250 shares of the company’s stock valued at $1,385,000 after acquiring an additional 170 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of General Mills by 1.1% in the second quarter. Jacobi Capital Management LLC now owns 17,119 shares of the company’s stock valued at $1,087,000 after acquiring an additional 180 shares during the last quarter. Burke & Herbert Bank & Trust Co. raised its stake in shares of General Mills by 3.9% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 5,355 shares of the company’s stock valued at $330,000 after acquiring an additional 200 shares during the last quarter. Motco raised its stake in shares of General Mills by 27.7% in the second quarter. Motco now owns 923 shares of the company’s stock valued at $57,000 after acquiring an additional 200 shares during the last quarter. Finally, Successful Portfolios LLC raised its stake in shares of General Mills by 4.7% in the first quarter. Successful Portfolios LLC now owns 4,682 shares of the company’s stock valued at $247,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.
A number of brokerages recently weighed in on GIS. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $57.00 to $50.00 in a report on Thursday, June 11th. ValuEngine lowered shares of General Mills from a “hold” rating to a “sell” rating in a report on Monday, June 8th. Wells Fargo & Co raised their price target on shares of General Mills from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price target on shares of General Mills from $56.00 to $61.00 and gave the company a “positive” rating in a report on Thursday, May 21st. Finally, Morgan Stanley raised their price target on shares of General Mills from $61.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average target price of $62.18.
In related news, insider Shawn P. Ogrady sold 44,147 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $64.50, for a total value of $2,847,481.50. Following the sale, the insider now directly owns 185,213 shares of the company’s stock, valued at approximately $11,946,238.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Richard C. Allendorf sold 13,897 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $64.72, for a total transaction of $899,413.84. Following the completion of the sale, the general counsel now directly owns 98,562 shares in the company, valued at $6,378,932.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,711 shares of company stock worth $3,920,384. Insiders own 0.52% of the company’s stock.
Shares of NYSE GIS opened at $63.27 on Friday. The company’s fifty day moving average is $62.42 and its 200-day moving average is $57.78. The stock has a market cap of $38.59 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.39 and a beta of 0.60. General Mills, Inc. has a twelve month low of $46.59 and a twelve month high of $65.48. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 1.31.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.04. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.98 billion. General Mills had a net margin of 12.37% and a return on equity of 27.66%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. On average, research analysts anticipate that General Mills, Inc. will post 3.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.10%. General Mills’s dividend payout ratio is 54.29%.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
See Also: Conference Calls
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.