General Mills, Inc. $GIS Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in General Mills, Inc. by 2.1%, holding 363,027 shares worth approximately $18.8 million.
• General Mills recently announced a quarterly dividend of $0.61 per share, with a yield of 4.8%, payable on November 3rd.
• The company's stock opened at $50.38, with a market cap of $26.87 billion, and has seen a quarterly revenue decline of 6.8% compared to the previous year.

Truist Financial Corp reduced its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 363,027 shares of the company's stock after selling 7,712 shares during the period. Truist Financial Corp owned 0.07% of General Mills worth $18,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of General Mills by 8.1% during the 1st quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock worth $589,814,000 after purchasing an additional 741,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of General Mills by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company's stock worth $428,213,000 after purchasing an additional 315,375 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of General Mills by 10.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock valued at $417,674,000 after buying an additional 634,393 shares during the period. Finally, Invesco Ltd. raised its position in shares of General Mills by 6.9% during the 1st quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock valued at $382,888,000 after buying an additional 414,768 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

General Mills Stock Up 0.1%

Shares of NYSE GIS opened at $50.38 on Friday. The firm has a market cap of $26.87 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.27 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $73.78. The business's 50 day moving average is $49.73 and its two-hundred day moving average is $53.05.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. Research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.8%. General Mills's dividend payout ratio is currently 46.12%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GIS shares. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Bernstein Bank reduced their price target on shares of General Mills from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Thursday, September 18th. Bank of America reduced their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and reduced their price target for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of General Mills in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus price target of $55.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.