Truist Financial Corp Sells 73,723 Shares of General Mills, Inc. $GIS

Truist Financial Corp lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 20.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,304 shares of the company’s stock after selling 73,723 shares during the period. Truist Financial Corp owned about 0.05% of General Mills worth $14,587,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in shares of General Mills in the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC grew its position in General Mills by 1,094.4% in the third quarter. Salomon & Ludwin LLC now owns 645 shares of the company’s stock valued at $32,000 after acquiring an additional 591 shares during the period. Financial Consulate Inc. bought a new stake in General Mills in the third quarter valued at $32,000. Root Financial Partners LLC acquired a new position in General Mills during the third quarter worth $40,000. Finally, Traub Capital Management LLC bought a new position in shares of General Mills during the second quarter valued at $46,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,500 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $48.15, for a total value of $72,225.00. Following the transaction, the insider directly owned 48,568 shares in the company, valued at $2,338,549.20. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by company insiders.

General Mills Stock Up 4.1%

Shares of GIS opened at $46.26 on Friday. The business’s fifty day moving average price is $45.87 and its two-hundred day moving average price is $47.96. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 9.95 and a beta of -0.06. General Mills, Inc. has a 52 week low of $42.78 and a 52 week high of $67.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 17th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.78 billion. General Mills had a return on equity of 21.41% and a net margin of 13.51%.The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, April 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.3%. General Mills’s payout ratio is currently 52.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein set a $54.00 target price on shares of General Mills and gave the stock a “market perform” rating in a report on Thursday, December 18th. TD Cowen restated a “hold” rating on shares of General Mills in a research report on Monday, December 15th. Weiss Ratings lowered shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 13th. Stifel Nicolaus cut their target price on shares of General Mills from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Finally, Morgan Stanley set a $47.00 price target on General Mills and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $53.33.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.