M&T Bank Corp Has $14.77 Million Position in General Mills, Inc. (NYSE:GIS)

M&T Bank Corp cut its stake in General Mills, Inc. (NYSE:GIS) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,007 shares of the company’s stock after selling 41,507 shares during the quarter. M&T Bank Corp’s holdings in General Mills were worth $14,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. American Century Companies Inc. lifted its stake in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of General Mills by 6,114.0% during the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after purchasing an additional 443,202 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after purchasing an additional 323,090 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,230 shares of company stock valued at $4,547,822. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $63.61 on Friday. The stock has a market capitalization of $35.31 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a 50 day moving average of $66.47 and a 200-day moving average of $68.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is presently 57.14%.

Analyst Ratings Changes

GIS has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday. TD Cowen reduced their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday. Stifel Nicolaus lowered their price target on General Mills from $82.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup dropped their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.56.

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.