M&T Bank Corp Lowers Stake in General Mills, Inc. (NYSE:GIS)

M&T Bank Corp decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 17.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 200,007 shares of the company’s stock after selling 41,507 shares during the period. M&T Bank Corp’s holdings in General Mills were worth $14,770,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GIS. Values First Advisors Inc. acquired a new stake in shares of General Mills during the third quarter worth $27,000. First Foundation Advisors boosted its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. Planning Capital Management Corp grew its holdings in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Fairscale Capital LLC acquired a new position in shares of General Mills during the 2nd quarter valued at about $42,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of General Mills during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction 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 trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,230 shares of company stock worth $4,547,822. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GIS shares. TD Cowen lowered their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Piper Sandler lifted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup dropped their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on General Mills from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.56.

General Mills Price Performance

Shares of GIS stock opened at $63.61 on Friday. The firm has a fifty day moving average of $66.47 and a two-hundred day moving average of $68.11. The firm has a market cap of $35.31 billion, a P/E ratio of 15.15, a P/E/G ratio of 3.41 and a beta of 0.10. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. 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 (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 57.14%.

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.