Amalgamated Bank Trims Stock Position in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank cut its stake in shares of General Mills, Inc. (NYSE:GISGet Rating) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,769 shares of the company’s stock after selling 10,751 shares during the period. Amalgamated Bank’s holdings in General Mills were worth $10,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Capital International Investors raised its stake in General Mills by 20.5% during the 4th quarter. Capital International Investors now owns 33,819,030 shares of the company’s stock valued at $2,278,685,000 after acquiring an additional 5,742,286 shares during the last quarter. Norges Bank purchased a new position in shares of General Mills during the 4th quarter worth approximately $278,095,000. BlackRock Inc. raised its stake in shares of General Mills by 6.9% during the 1st quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock worth $3,285,257,000 after buying an additional 3,122,049 shares in the last quarter. First Trust Advisors LP raised its stake in shares of General Mills by 162.5% during the 1st quarter. First Trust Advisors LP now owns 4,130,154 shares of the company’s stock worth $279,694,000 after buying an additional 2,556,537 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of General Mills by 15.6% during the 1st quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock worth $421,700,000 after buying an additional 842,191 shares in the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In other news, insider Sean N. Walker sold 29,489 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the sale, the insider now owns 89,989 shares in the company, valued at $6,749,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dana M. Mcnabb sold 10,993 shares of General Mills stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total value of $837,226.88. Following the transaction, the insider now owns 14,884 shares in the company, valued at $1,133,565.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the completion of the transaction, the insider now owns 89,989 shares in the company, valued at approximately $6,749,175. The disclosure for this sale can be found here. Insiders have sold 58,422 shares of company stock worth $4,397,556 over the last quarter. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIS. Credit Suisse Group set a $74.00 target price on General Mills in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on General Mills from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Citigroup increased their target price on General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. BMO Capital Markets increased their target price on General Mills from $66.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, June 30th. Finally, UBS Group raised their price objective on General Mills from $77.00 to $79.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.64.

General Mills Price Performance

Shares of NYSE:GIS opened at $75.25 on Friday. The business’s fifty day moving average price is $75.93 and its two-hundred day moving average price is $71.44. The stock has a market cap of $44.83 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.48 and a beta of 0.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63. General Mills, Inc. has a one year low of $57.47 and a one year high of $78.54.

General Mills (NYSE:GISGet Rating) last announced its earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.81 billion. General Mills had a return on equity of 23.74% and a net margin of 14.25%. General Mills’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, analysts forecast that General Mills, Inc. will post 4 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio (DPR) is 48.87%.

About General Mills

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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