Montecito Bank & Trust Sells 204 Shares of General Mills, Inc. (NYSE:GIS)

Montecito Bank & Trust lowered its holdings in General Mills, Inc. (NYSE:GIS) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,478 shares of the company’s stock after selling 204 shares during the quarter. Montecito Bank & Trust’s holdings in General Mills were worth $552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GIS. Norden Group LLC bought a new stake in General Mills during the first quarter worth about $308,000. Empirical Finance LLC grew its stake in General Mills by 3.3% during the first quarter. Empirical Finance LLC now owns 21,481 shares of the company’s stock worth $1,503,000 after buying an additional 685 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in General Mills by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,484 shares of the company’s stock worth $1,223,000 after buying an additional 5,594 shares during the last quarter. LSV Asset Management grew its stake in General Mills by 0.3% during the first quarter. LSV Asset Management now owns 1,052,700 shares of the company’s stock worth $73,657,000 after buying an additional 2,950 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in General Mills by 31.8% during the first quarter. Empowered Funds LLC now owns 37,319 shares of the company’s stock worth $2,611,000 after buying an additional 9,000 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Barclays increased their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Bank of America increased their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Trading Down 1.6 %

GIS opened at $64.93 on Friday. The firm’s fifty day moving average is $71.86 and its two-hundred day moving average is $69.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market cap of $36.05 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping 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 business posted $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.70%. General Mills’s payout ratio is 57.14%.

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.