General Mills, Inc. (NYSE:GIS) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 429,073 shares of the company’s stock after selling 3,052 shares during the quarter. Truist Financial Corp’s holdings in General Mills were worth $27,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arkadios Wealth Advisors increased its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC acquired a new position in shares of General Mills in the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System raised its stake in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after acquiring an additional 96,712 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after purchasing an additional 23,411 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIS has been the subject of several research analyst reports. TD Cowen raised their price objective on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Evercore ISI reduced their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Citigroup upped their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Mizuho reduced their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $72.73.

General Mills Stock Down 0.4 %

General Mills stock opened at $73.04 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock has a market capitalization of $40.77 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The business has a 50 day simple moving average of $71.60 and a 200-day simple moving average of $69.04. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. 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 posted $1.09 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred 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 sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jonathon Nudi sold 9,647 shares of the firm’s 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 transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

General Mills Company 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.