Truist Financial Corp Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Truist Financial Corp trimmed its stake in General Mills, Inc. (NYSE:GIS) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 414,264 shares of the company’s stock after selling 3,612 shares during the period. Truist Financial Corp’s holdings in General Mills were worth $26,418,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of General Mills in the 3rd quarter valued at $27,000. Endeavor Private Wealth Inc. purchased a new position in General Mills during the 4th quarter worth $26,000. Planning Capital Management Corp grew its position in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in General Mills during the 3rd quarter worth $44,000. Finally, Heck Capital Advisors LLC purchased a new position in General Mills during the 4th quarter worth $38,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on shares of General Mills from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Mizuho lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. TD Cowen lowered their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays reduced their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.13.

Insiders Place Their Bets

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

General Mills Stock Down 2.2 %

Shares of NYSE GIS opened at $57.53 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm has a 50-day moving average price of $61.47 and a 200 day moving average price of $66.81. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is currently 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.