General Mills, Inc. (NYSE:GIS) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lowered its position in General Mills, Inc. (NYSE:GIS) by 82.6% during the third quarter, Holdings Channel.com reports. The fund owned 672 shares of the company’s stock after selling 3,192 shares during the quarter. Oakworth Capital Inc.’s holdings in General Mills were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. AdvisorNet Financial Inc boosted its holdings in General Mills by 79.8% in the first quarter. AdvisorNet Financial Inc now owns 7,315 shares of the company’s stock valued at $512,000 after acquiring an additional 3,247 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of General Mills during the first quarter worth about $1,448,000. Riverview Trust Co purchased a new stake in shares of General Mills during the first quarter worth about $35,000. Sound Income Strategies LLC increased its position in shares of General Mills by 18.8% during the first quarter. Sound Income Strategies LLC now owns 3,576 shares of the company’s stock worth $250,000 after acquiring an additional 565 shares during the last quarter. Finally, GoalVest Advisory LLC increased its position in shares of General Mills by 65.5% during the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $69.09 on Wednesday. The company has a market capitalization of $38.56 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 3.71 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. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The business has a 50 day moving average price of $72.37 and a two-hundred day moving average price of $69.20.

General Mills (NYSE:GIS) last released its earnings results 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. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. Research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.47%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Insiders Place Their Bets

In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock worth $1,467,311 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several research analyst reports. 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. Evercore ISI lowered their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group initiated coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Finally, Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. 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, the stock has a consensus rating of “Hold” and a consensus price target of $73.00.

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.