City Holding Co. Reduces Stake in General Mills, Inc. (NYSE:GIS)

Share on StockTwits

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.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. On average, analysts forecast that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.

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.

Read More: Growth Stocks

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

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.