Cullen Frost Bankers Inc. Sells 2,436 Shares of General Mills, Inc. $GIS

Cullen Frost Bankers Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,828 shares of the company’s stock after selling 2,436 shares during the period. Cullen Frost Bankers Inc.’s holdings in General Mills were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kera Capital Partners Inc. acquired a new stake in shares of General Mills during the second quarter worth about $222,000. Victory Capital Management Inc. raised its position in shares of General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after purchasing an additional 35,494 shares during the period. Commonwealth Equity Services LLC raised its position in shares of General Mills by 7.8% during the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after purchasing an additional 32,628 shares during the period. Rock Point Advisors LLC acquired a new stake in shares of General Mills during the first quarter worth about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of General Mills by 126.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock worth $46,285,000 after purchasing an additional 431,693 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research analyst reports. UBS Group dropped their price target on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Bernstein Bank dropped their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Finally, Mizuho dropped their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Down 1.1%

Shares of General Mills stock opened at $47.42 on Friday. The firm has a market cap of $25.30 billion, a PE ratio of 8.96, a P/E/G ratio of 1.21 and a beta of -0.03. General Mills, Inc. has a 52-week low of $47.27 and a 52-week high of $68.96. The business’s 50 day simple moving average is $49.53 and its 200 day simple moving average is $52.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.1%. General Mills’s dividend payout ratio is currently 46.12%.

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.