Toronto Dominion Bank Cuts Stake in General Mills, Inc. (NYSE:GIS)

Toronto Dominion Bank lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 13.8% in the 2nd quarter, Holdings Channel reports. The firm owned 276,943 shares of the company’s stock after selling 44,390 shares during the period. Toronto Dominion Bank’s holdings in General Mills were worth $17,519,000 at the end of the most recent reporting period.

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

General Mills Stock Performance

Shares of General Mills stock opened at $73.99 on Friday. The stock has a market capitalization of $41.30 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. 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 business has a 50-day moving average of $70.53 and a 200 day moving average of $68.73. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.24%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GIS shares. TD Cowen boosted their price target on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stifel Nicolaus boosted their target price on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Mizuho dropped their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group started coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.73.

Insider Buying and Selling at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,700,411.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

About General Mills

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.