City Holding Co. Trims Holdings in General Mills, Inc. (NYSE:GIS)

City Holding Co. reduced its position in General Mills, Inc. (NYSE:GIS) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,735 shares of the company’s stock after selling 404 shares during the period. City Holding Co.’s holdings in General Mills were worth $685,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of General Mills during the 3rd quarter valued at $27,000. Planning Capital Management Corp lifted its position in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of General Mills in the second quarter worth about $42,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Mills during the third quarter worth about $44,000. Finally, Rise Advisors LLC raised its stake in General Mills by 46.7% during the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after purchasing an additional 193 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,541 shares of company stock valued at $3,321,170 in the last three months. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Citigroup reduced their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays reduced their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.31.

General Mills Stock Up 0.8 %

Shares of NYSE:GIS opened at $59.64 on Tuesday. The firm has a market capitalization of $32.88 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.11. The business has a 50 day simple moving average of $63.76 and a two-hundred day simple moving average of $67.55. General Mills, Inc. has a 1 year low of $57.94 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business earned $1.25 EPS. General Mills’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that General Mills, Inc. will post 4.42 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s payout ratio is 52.17%.

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.