General Mills, Inc. (NYSE:GIS) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its holdings in General Mills, Inc. (NYSE:GIS – Get Rating) by 29.6% during the third quarter, HoldingsChannel reports. The firm owned 42,988 shares of the company’s stock after selling 18,106 shares during the period. UMB Bank n.a.’s holdings in General Mills were worth $3,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its position in General Mills by 6.9% in the 1st quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock valued at $3,285,257,000 after buying an additional 3,122,049 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of General Mills by 162.5% in the first quarter. First Trust Advisors LP now owns 4,130,154 shares of the company’s stock valued at $279,694,000 after acquiring an additional 2,556,537 shares in the last quarter. Bank of America Corp DE increased its stake in shares of General Mills by 15.6% during the first quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock worth $421,700,000 after acquiring an additional 842,191 shares during the period. State Street Corp raised its holdings in General Mills by 2.3% during the first quarter. State Street Corp now owns 35,209,877 shares of the company’s stock worth $2,384,413,000 after purchasing an additional 786,443 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in General Mills by 686.5% in the second quarter. Los Angeles Capital Management LLC now owns 885,938 shares of the company’s stock valued at $66,844,000 after purchasing an additional 773,301 shares during the period. 75.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In related news, insider Jodi J. Benson sold 8,682 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $82.00, for a total transaction of $711,924.00. Following the transaction, the insider now owns 38,107 shares of the company’s stock, valued at $3,124,774. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other General Mills news, insider Shawn P. Ogrady sold 20,019 shares of General Mills stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $82.50, for a total value of $1,651,567.50. Following the completion of the sale, the insider now owns 69,042 shares in the company, valued at approximately $5,695,965. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi J. Benson sold 8,682 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $82.00, for a total transaction of $711,924.00. Following the transaction, the insider now owns 38,107 shares in the company, valued at $3,124,774. The disclosure for this sale can be found here. Insiders sold a total of 95,725 shares of company stock worth $7,690,676 over the last ninety days. 0.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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GIS has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on General Mills from $72.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday. UBS Group cut their price objective on General Mills from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley upped their price target on shares of General Mills from $71.00 to $73.00 and gave the stock an “underweight” rating in a research note on Tuesday. Bank of America boosted their price objective on shares of General Mills from $74.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, September 22nd. Finally, Piper Sandler upped their target price on shares of General Mills from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $79.87.

General Mills Price Performance

Shares of NYSE:GIS opened at $85.36 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.35 and a current ratio of 0.60. The business’s fifty day moving average price is $81.76 and its two-hundred day moving average price is $77.23. The stock has a market cap of $50.66 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.34. General Mills, Inc. has a one year low of $61.67 and a one year high of $88.34.

General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.72 billion. General Mills had a return on equity of 23.87% and a net margin of 15.13%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.1 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, January 9th. This represents a $2.16 annualized dividend and a dividend yield of 2.53%. General Mills’s dividend payout ratio is currently 45.47%.

About General Mills

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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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.