Huntington National Bank Sells 2,420 Shares of General Mills, Inc. (NYSE:GIS)

Huntington National Bank decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 62,061 shares of the company’s stock after selling 2,420 shares during the quarter. Huntington National Bank’s holdings in General Mills were worth $3,958,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GIS. Te Ahumairangi Investment Management Ltd increased its holdings in General Mills by 3.8% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 74,863 shares of the company’s stock valued at $4,774,000 after purchasing an additional 2,750 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in General Mills by 13.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 14,132 shares of the company’s stock worth $901,000 after buying an additional 1,631 shares during the last quarter. Groupama Asset Managment grew its position in shares of General Mills by 14.1% during the 4th quarter. Groupama Asset Managment now owns 112,698 shares of the company’s stock worth $7,142,000 after buying an additional 13,950 shares during the period. Trexquant Investment LP increased its stake in shares of General Mills by 51.5% in the 4th quarter. Trexquant Investment LP now owns 363,319 shares of the company’s stock valued at $23,169,000 after acquiring an additional 123,473 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of General Mills by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after acquiring an additional 136,895 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup lowered their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Jefferies Financial Group increased their price target on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company cut their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.69.

General Mills Stock Performance

Shares of GIS opened at $59.21 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90. The firm has a fifty day simple moving average of $59.96 and a 200 day simple moving average of $64.39. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’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. Research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.05%. General Mills’s dividend payout ratio is 52.75%.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

General Mills 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.