Simmons Bank Sells 502 Shares of General Mills, Inc. (NYSE:GIS)

Simmons Bank trimmed its stake in General Mills, Inc. (NYSE:GIS) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GIS. Arkadios Wealth Advisors grew its holdings in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after purchasing an additional 10,765 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after buying an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after acquiring an additional 23,411 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. 0.26% of the stock is owned by insiders.

General Mills Trading Up 1.5 %

Shares of NYSE GIS opened at $65.24 on Thursday. The company’s 50 day simple moving average is $71.27 and its 200 day simple moving average is $68.96. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The firm has a market capitalization of $36.22 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.30 and a beta of 0.11.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.68%. General Mills’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

GIS has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Barclays raised their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Bank of America upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price objective on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Finally, The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, General Mills has an average rating of “Hold” and an average target price of $73.00.

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.