Mitsubishi UFJ Trust & Banking Corp Sells 2,563 Shares of General Mills, Inc. (NYSE:GIS)

Mitsubishi UFJ Trust & Banking Corp cut its stake in General Mills, Inc. (NYSE:GIS) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 694,133 shares of the company’s stock after selling 2,563 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Mills were worth $48,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of General Mills by 1.4% during the first quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock worth $719,000 after buying an additional 140 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after purchasing an additional 145 shares during the last quarter. Park Place Capital Corp lifted its position in shares of General Mills by 40.6% in the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of General Mills by 2.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock worth $382,000 after purchasing an additional 164 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in General Mills by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 48,176 shares of the company’s stock valued at $3,370,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

General Mills Stock Performance

GIS traded down $1.14 during trading on Friday, hitting $64.38. The stock had a trading volume of 2,361,482 shares, compared to its average volume of 4,580,139. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The company has a 50 day moving average price of $66.39 and a 200-day moving average price of $66.53. General Mills, Inc. has a one year low of $60.33 and a one year high of $77.63. The firm has a market cap of $35.93 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 3.64 and a beta of 0.09.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.73%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is currently 55.68%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America cut their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Wells Fargo & Company reduced their price target on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Barclays decreased their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.82.

General Mills Company 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.