Centennial Bank AR Cuts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Centennial Bank AR lowered its position in General Mills, Inc. (NYSE:GIS) by 48.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,164 shares of the company’s stock after selling 2,923 shares during the period. Centennial Bank AR’s holdings in General Mills were worth $200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC grew its position in shares of General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the last quarter. Fortis Group Advisors LLC grew its position in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after buying an additional 229 shares during the last quarter. RFP Financial Group LLC grew its position in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co grew its position in General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $74.62 on Wednesday. The company’s fifty day moving average price is $71.30 and its 200 day moving average price is $68.98. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90. The company has a market capitalization of $41.65 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. TD Cowen boosted their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $72.73.

Insider Buying and Selling

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction 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 of the company’s stock, valued at $9,571,314.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction 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 of the company’s stock, valued at $9,571,314.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by 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.