City Holding Co. Sells 404 Shares of General Mills, Inc. (NYSE:GIS)

City Holding Co. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,735 shares of the company’s stock after selling 404 shares during the period. City Holding Co.’s holdings in General Mills were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after buying an additional 43,086 shares during the period. JPMorgan Chase & Co. lifted its stake in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares in the last quarter. Nordea Investment Management AB increased its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the period. Finally, Ellsworth Advisors LLC raised its holdings in General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after purchasing an additional 74,456 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup reduced their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, December 19th. Finally, Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $80.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.31.

General Mills Stock Performance

Shares of GIS opened at $59.64 on Tuesday. General Mills, Inc. has a 12 month low of $57.94 and a 12 month high of $75.90. The business’s fifty day simple moving average is $63.76 and its two-hundred day simple moving average is $67.55. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company has a market cap of $32.88 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 3.65 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. Research analysts anticipate that General Mills, Inc. will post 4.42 earnings per share 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. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,541 shares of company stock worth $3,321,170. Insiders own 0.26% 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.