General Mills, Inc. $GIS Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in General Mills, Inc. by 0.9%, now holding approximately 0.34% of the company with a value of $95.4 million.
• General Mills reported a quarterly earnings per share of $0.86, exceeding expectations and showing a 6.8% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.61 per share, reflecting a payout ratio of 46.12% and a dividend yield of 5.0%.

US Bancorp DE decreased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,840,477 shares of the company's stock after selling 17,360 shares during the period. US Bancorp DE owned about 0.34% of General Mills worth $95,355,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Perpetual Ltd boosted its position in General Mills by 3.5% during the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company's stock worth $324,000 after acquiring an additional 184 shares during the period. Conning Inc. boosted its position in General Mills by 4.6% during the 1st quarter. Conning Inc. now owns 4,212 shares of the company's stock worth $252,000 after acquiring an additional 185 shares during the period. Benjamin Edwards Inc. boosted its position in General Mills by 0.4% during the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock worth $3,127,000 after acquiring an additional 185 shares during the period. Eastern Bank boosted its position in General Mills by 0.8% during the 1st quarter. Eastern Bank now owns 24,817 shares of the company's stock worth $1,484,000 after acquiring an additional 186 shares during the period. Finally, SPC Financial Inc. boosted its position in General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock worth $804,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

GIS opened at $49.20 on Friday. The company has a market cap of $26.24 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.26 and a beta of -0.03. The stock has a 50-day moving average of $49.77 and a 200-day moving average of $52.81. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $72.55. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm's revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 10th. General Mills's payout ratio is currently 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $52.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, September 18th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and dropped their price objective for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. HSBC cut their target price on General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. Finally, Bernstein Bank cut their target price on 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. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $55.82.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares of the company's stock, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company 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.

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