Amalgamated Bank Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Amalgamated Bank cut its holdings in General Mills, Inc. (NYSE:GIS) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,687 shares of the company’s stock after selling 4,535 shares during the quarter. Amalgamated Bank’s holdings in General Mills were worth $8,100,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in General Mills in the third quarter worth about $27,000. RFP Financial Group LLC grew its stake in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. First Foundation Advisors increased its position in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in General Mills during the second quarter valued at $38,000. Finally, Beacon Capital Management LLC boosted its holdings in General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

GIS opened at $65.99 on Thursday. The company’s 50 day moving average is $71.86 and its 200 day moving average is $69.15. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The company has a market cap of $36.64 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.50 and a beta of 0.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for 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 company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. General Mills’s payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIS. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Piper Sandler raised their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group initiated coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $73.00.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is owned by corporate 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.