Webster Bank N. A. Sells 486 Shares of General Mills, Inc. (NYSE:GIS)

Webster Bank N. A. decreased its position in General Mills, Inc. (NYSE:GIS) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,649 shares of the company’s stock after selling 486 shares during the quarter. Webster Bank N. A.’s holdings in General Mills were worth $122,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CHICAGO TRUST Co NA purchased a new position in General Mills during the 3rd quarter valued at $237,000. Exchange Traded Concepts LLC increased its stake in shares of General Mills by 9,143.2% during the third quarter. Exchange Traded Concepts LLC now owns 13,680 shares of the company’s stock valued at $1,010,000 after purchasing an additional 13,532 shares in the last quarter. Retirement Planning Group LLC bought a new stake in shares of General Mills in the 3rd quarter worth approximately $503,000. CRA Financial Services LLC purchased a new stake in shares of General Mills in the 3rd quarter worth approximately $232,000. Finally, Ritholtz Wealth Management raised its stake in General Mills by 29.6% during the third quarter. Ritholtz Wealth Management now owns 22,889 shares of the company’s stock valued at $1,690,000 after buying an additional 5,224 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Stifel Nicolaus increased their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Bank of America increased their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Citigroup raised their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Hold” and an average price target of $72.73.

General Mills Price Performance

General Mills stock opened at $70.81 on Monday. General Mills, Inc. has a 12-month low of $61.01 and a 12-month high of $75.90. The company has a 50-day moving average price of $72.15 and a 200 day moving average price of $69.18. The stock has a market cap of $39.52 billion, a P/E ratio of 16.43, a PEG ratio of 3.71 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.39%. General Mills’s payout ratio is currently 55.68%.

Insider Activity

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills 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 sale, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About General Mills

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.