National Bank of Canada FI Sells 27,166 Shares of General Mills, Inc. (NYSE:GIS)

National Bank of Canada FI reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520,748 shares of the company’s stock after selling 27,166 shares during the quarter. National Bank of Canada FI owned about 0.09% of General Mills worth $33,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its position in General Mills by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 24,035 shares of the company’s stock worth $1,775,000 after buying an additional 2,500 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of General Mills in the 3rd quarter worth about $4,015,000. Centiva Capital LP purchased a new position in shares of General Mills during the 3rd quarter worth about $272,000. IHT Wealth Management LLC grew its holdings in General Mills by 27.2% during the 3rd quarter. IHT Wealth Management LLC now owns 7,662 shares of the company’s stock valued at $567,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in General Mills by 3.3% in the 3rd quarter. Quantinno Capital Management LP now owns 33,463 shares of the company’s stock worth $2,471,000 after purchasing an additional 1,069 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.9 %

General Mills stock opened at $59.21 on Thursday. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The business has a fifty day moving average of $59.96 and a two-hundred day moving average of $64.39. The firm has a market cap of $32.64 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.05%. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Analysts Set New Price Targets

A number of research firms have recently commented on GIS. Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Bank of America decreased their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Morgan Stanley initiated coverage on shares of General Mills in a report on Monday, March 24th. They issued an “underweight” rating and a $53.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Finally, TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.69.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

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 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.