Amalgamated Bank Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 109,687 shares of the company’s stock after selling 4,535 shares during the period. Amalgamated Bank’s holdings in General Mills were worth $8,100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arkadios Wealth Advisors grew its position in General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after acquiring an additional 10,765 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of 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 purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 valued at $48,711,000 after buying an additional 96,712 shares during the period. iA Global Asset Management Inc. lifted its position in General Mills by 92.5% in 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 during the last quarter. Finally, DNB Asset Management AS boosted its stake in General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock worth $7,535,000 after buying an additional 11,334 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. The Goldman Sachs Group assumed coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. TD Cowen boosted their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, 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 note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.00.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by corporate insiders.

General Mills Trading Down 3.4 %

NYSE GIS opened at $65.99 on Thursday. The company’s 50-day simple moving average is $71.86 and its two-hundred day simple moving average is $69.15. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a market capitalization of $36.64 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company posted $1.09 earnings per share. General Mills’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. General Mills’s dividend payout ratio is presently 57.14%.

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.