Huntington National Bank Sells 780 Shares of General Mills, Inc. (NYSE:GIS)

Huntington National Bank lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,293 shares of the company’s stock after selling 780 shares during the period. Huntington National Bank’s holdings in General Mills were worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of GIS. Capital Research Global Investors lifted its holdings in shares of General Mills by 203.5% during the 1st quarter. Capital Research Global Investors now owns 21,303,470 shares of the company’s stock worth $1,124,184,000 after acquiring an additional 14,283,883 shares during the period. BlackRock Inc. lifted its holdings in shares of General Mills by 4.3% during the 1st quarter. BlackRock Inc. now owns 48,577,320 shares of the company’s stock worth $2,563,425,000 after acquiring an additional 2,017,953 shares during the period. Prudential PLC lifted its holdings in shares of General Mills by 4,472.1% during the 1st quarter. Prudential PLC now owns 1,653,365 shares of the company’s stock worth $87,248,000 after acquiring an additional 1,617,203 shares during the period. California Public Employees Retirement System lifted its holdings in shares of General Mills by 42.8% during the 1st quarter. California Public Employees Retirement System now owns 4,266,553 shares of the company’s stock worth $225,146,000 after acquiring an additional 1,278,190 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of General Mills by 90.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,204,615 shares of the company’s stock worth $135,916,000 after acquiring an additional 1,044,419 shares during the period. 70.52% of the stock is owned by institutional investors.

Shares of NYSE GIS opened at $63.27 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.49 and a current ratio of 0.68. General Mills, Inc. has a 52-week low of $46.59 and a 52-week high of $65.48. The firm has a 50 day moving average price of $62.42 and a two-hundred day moving average price of $57.78. The stock has a market cap of $38.59 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.04. General Mills had a net margin of 12.37% and a return on equity of 27.66%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same period in the prior year, the company posted $0.83 earnings per share. General Mills’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts predict that General Mills, Inc. will post 3.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, July 9th. General Mills’s dividend payout ratio (DPR) is presently 54.29%.

Several equities analysts recently commented on GIS shares. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $57.00 to $50.00 in a research note on Thursday, June 11th. Jefferies Financial Group increased their price objective on shares of General Mills from $56.00 to $61.00 and gave the company a “positive” rating in a research note on Thursday, May 21st. ValuEngine downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 8th. BMO Capital Markets increased their price objective on shares of General Mills from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Thursday, July 2nd. Finally, UBS Group increased their price objective on shares of General Mills from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $62.18.

In other news, insider Jodi J. Benson sold 2,667 shares of the stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $65.05, for a total transaction of $173,488.35. Following the completion of the sale, the insider now directly owns 42,723 shares in the company, valued at $2,779,131.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn P. Ogrady sold 44,147 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $64.50, for a total transaction of $2,847,481.50. Following the sale, the insider now owns 185,213 shares of the company’s stock, valued at $11,946,238.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,711 shares of company stock valued at $3,920,384. 0.52% of the stock is currently owned by corporate insiders.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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