General Mills, Inc. (NYSE:GIS) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the company’s stock after selling 361 shares during the period. Hancock Whitney Corp’s holdings in General Mills were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mesirow Financial Investment Management Inc. boosted its position in General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after acquiring an additional 148 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the last quarter. Secure Asset Management LLC lifted its position in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. LCM Capital Management Inc boosted its stake in General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after buying an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after buying an additional 165 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Up 0.4 %

GIS opened at $66.23 on Thursday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $36.77 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.41 and a beta of 0.11. The firm’s 50 day moving average is $69.12 and its 200-day moving average is $68.54.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. Analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Transactions at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 6.04 % 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, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,555 shares of company stock valued at $4,721,336. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of several recent analyst reports. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup boosted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Stifel Nicolaus increased their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, 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 report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.67.

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.