Simmons Bank decreased its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,497 shares of the company’s stock after selling 502 shares during the quarter. Simmons Bank’s holdings in General Mills were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the business. Values First Advisors Inc. acquired a new position in shares of General Mills in the 3rd quarter valued at about $27,000. RFP Financial Group LLC grew its position in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. First Foundation Advisors increased its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of General Mills during the 2nd quarter valued at $38,000. Finally, Beacon Capital Management LLC grew its holdings in shares of General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after acquiring an additional 180 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Bank of America raised their price objective on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays boosted their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $73.00.
Insider Transactions at General Mills
In related news, insider Jonathon Nudi sold 9,647 shares of the 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 completion of the sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by company insiders.
General Mills Price Performance
NYSE GIS opened at $65.24 on Thursday. The stock has a market capitalization of $36.22 billion, a PE ratio of 15.53, a P/E/G ratio of 3.30 and a beta of 0.11. The stock has a 50-day simple moving average of $71.27 and a 200 day simple moving average of $68.96. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the business earned $1.09 earnings per share. General Mills’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.
General Mills Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.68%. General Mills’s dividend payout ratio is 57.14%.
General Mills Profile
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.
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