Oakworth Capital Inc. Reduces Stake in General Mills, Inc. (NYSE:GIS)

Oakworth Capital Inc. lowered its holdings in General Mills, Inc. (NYSE:GIS) by 82.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 672 shares of the company’s stock after selling 3,192 shares during the quarter. Oakworth Capital Inc.’s holdings in General Mills were worth $50,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its position in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. RFP Financial Group LLC boosted its position in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. GoalVest Advisory LLC boosted its position in shares of General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after purchasing an additional 180 shares during the period. First Foundation Advisors boosted its position in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of General Mills in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.5 %

GIS opened at $69.09 on Wednesday. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The stock has a market capitalization of $38.56 billion, a P/E ratio of 16.03, a P/E/G ratio of 3.71 and a beta of 0.10. The business has a 50 day simple moving average of $72.37 and a 200-day simple moving average of $69.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business posted $1.09 EPS. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. increased their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Evercore ISI decreased their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Stifel Nicolaus increased their price objective on General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.00.

Insider Activity at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Mills news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,055 shares of company stock valued at $1,467,311 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

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.