Coastline Trust Co Cuts Holdings in General Mills, Inc. (NYSE:GIS)

Coastline Trust Co cut its position in shares of General Mills, Inc. (NYSE:GIS) by 46.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,750 shares of the company’s stock after selling 2,410 shares during the quarter. Coastline Trust Co’s holdings in General Mills were worth $203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its holdings in shares of General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares in the last quarter. Secure Asset Management LLC lifted its position in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. LCM Capital Management Inc grew its holdings in shares of General Mills by 1.9% in the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock worth $539,000 after acquiring an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in shares of General Mills by 1.1% during the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after purchasing an additional 165 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIS has been the topic of several recent analyst reports. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. upped their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $72.67.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, 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 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock worth $4,657,676 over the last 90 days. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $63.21 on Friday. The firm has a 50 day moving average of $70.67 and a two-hundred day moving average of $68.84. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 3.35 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

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

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.80%. General Mills’s payout ratio is currently 57.14%.

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.