General Mills, Inc. (NYSE:GIS) Holdings Trimmed by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,296 shares of the company’s stock after selling 1,302 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in General Mills were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. BlackRock Inc. boosted its stake in shares of General Mills by 0.5% during the 2nd quarter. BlackRock Inc. now owns 54,713,936 shares of the company’s stock valued at $4,196,559,000 after buying an additional 279,268 shares during the period. State Street Corp boosted its stake in shares of General Mills by 0.7% during the 2nd quarter. State Street Corp now owns 33,076,744 shares of the company’s stock valued at $2,536,986,000 after buying an additional 216,622 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after buying an additional 11,067,051 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of General Mills by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after buying an additional 75,902 shares during the period. Finally, Morgan Stanley boosted its stake in shares of General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after buying an additional 1,051,169 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathon Nudi sold 10,000 shares of General Mills stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the sale, the insider now directly owns 93,381 shares in the company, valued at $6,462,899.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,782 shares of company stock valued at $5,057,820. 0.24% of the stock is owned by company insiders.

General Mills Stock Performance

Shares of NYSE GIS traded up $0.83 during mid-day trading on Thursday, reaching $70.49. 1,118,958 shares of the company were exchanged, compared to its average volume of 4,270,299. The company’s 50-day simple moving average is $65.01 and its 200-day simple moving average is $64.79. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $40.03 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.36 and a beta of 0.15. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the firm earned $0.97 earnings per share. General Mills’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is 54.13%.

Wall Street Analysts Forecast Growth

GIS has been the subject of several analyst reports. Evercore ISI reduced their price objective on shares of General Mills from $75.00 to $72.00 and set an “in-line” rating for the company in a research note on Monday, December 11th. Stifel Nicolaus boosted their price objective on shares of General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Piper Sandler dropped their price objective on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, December 15th. Citigroup started coverage on shares of General Mills in a report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, TD Cowen upped their target price on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $72.18.

General Mills 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.