City Holding Co. decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 50,168 shares of the company’s stock after selling 888 shares during the period. City Holding Co.’s holdings in General Mills were worth $2,765,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in General Mills by 1.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 163,313 shares of the company’s stock worth $8,578,000 after acquiring an additional 2,021 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in General Mills by 2.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 26,905 shares of the company’s stock worth $1,413,000 after acquiring an additional 600 shares during the last quarter. BBT Capital Management LLC bought a new position in General Mills in the 2nd quarter worth about $266,000. BlackRock Inc. increased its stake in General Mills by 15.8% in the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after acquiring an additional 6,544,997 shares during the last quarter. Finally, Roanoke Asset Management Corp NY bought a new position in General Mills in the 2nd quarter worth about $255,000. 68.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills stock traded down $0.17 during trading on Tuesday, hitting $53.84. 162,538 shares of the stock traded hands, compared to its average volume of 3,515,497. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51. The stock has a market cap of $32.85 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 2.31 and a beta of 0.73. The firm’s fifty day moving average is $54.23 and its 200-day moving average is $52.90. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $56.40.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.64%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
In other news, insider Kofi A. Bruce sold 15,582 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $54.33, for a total transaction of $846,570.06. Following the transaction, the insider now directly owns 35,487 shares in the company, valued at approximately $1,928,008.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.
GIS has been the topic of a number of research analyst reports. Credit Suisse Group restated a “hold” rating and issued a $56.00 target price on shares of General Mills in a research note on Thursday, September 12th. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 22nd. UBS Group upped their target price on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Piper Jaffray Companies upped their target price on General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $53.64.
General Mills Company Profile
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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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