CNB Bank Has $29,000 Stock Holdings in General Mills, Inc. (NYSE:GIS)

CNB Bank decreased its position in General Mills, Inc. (NYSE:GIS) by 34.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 450 shares of the company’s stock after selling 238 shares during the period. CNB Bank’s holdings in General Mills were worth $29,000 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. Janney Montgomery Scott LLC grew its stake in shares of General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after purchasing an additional 43,086 shares during the period. JPMorgan Chase & Co. boosted its holdings in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after buying an additional 104,436 shares during the period. Nordea Investment Management AB grew its position in shares of General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after buying an additional 3,058,414 shares during the period. Finally, Ellsworth Advisors LLC increased its stake in shares of General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock valued at $10,697,000 after acquiring an additional 74,456 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’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 value of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,541 shares of company stock worth $3,321,170 in the last ninety days. 0.26% of the stock is owned by insiders.

General Mills Stock Up 0.8 %

GIS stock opened at $59.64 on Friday. General Mills, Inc. has a 52 week low of $57.94 and a 52 week high of $75.90. The business has a 50-day simple moving average of $63.88 and a 200 day simple moving average of $67.52. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market cap of $32.88 billion, a PE ratio of 12.97, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.42 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.02%. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GIS. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. TD Cowen lowered their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Citigroup cut their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price objective on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.31.

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.