Wesbanco Bank Inc. Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Wesbanco Bank Inc. lowered its stake in General Mills, Inc. (NYSE:GIS) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,428 shares of the company’s stock after selling 1,576 shares during the quarter. Wesbanco Bank Inc.’s holdings in General Mills were worth $5,423,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GIS. Chicago Partners Investment Group LLC lifted its position in shares of General Mills by 13.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,952 shares of the company’s stock valued at $315,000 after acquiring an additional 576 shares in the last quarter. Virtu Financial LLC bought a new stake in General Mills during the 4th quarter valued at approximately $650,000. EP Wealth Advisors LLC boosted its position in shares of General Mills by 3.1% during the fourth quarter. EP Wealth Advisors LLC now owns 21,868 shares of the company’s stock worth $1,424,000 after acquiring an additional 656 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in General Mills during the fourth quarter valued at $57,000. Finally, Creekmur Asset Management LLC bought a new position in General Mills during the fourth quarter valued at $37,000. Institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GIS shares. Barclays upped their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company lifted their target price on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

General Mills Trading Up 0.1 %

Shares of GIS opened at $70.88 on Tuesday. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 3.71 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a 50-day moving average of $72.20 and a 200 day moving average of $69.19.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company posted $1.09 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is 55.68%.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

About General Mills

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.