M&T Bank Corp Sells 41,507 Shares of General Mills, Inc. (NYSE:GIS)

M&T Bank Corp lowered its position in General Mills, Inc. (NYSE:GIS - Free Report) by 17.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,007 shares of the company's stock after selling 41,507 shares during the quarter. M&T Bank Corp's holdings in General Mills were worth $14,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GIS. State Street Corp lifted its stake in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company's stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company's stock valued at $356,151,000 after purchasing an additional 323,090 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company's stock valued at $342,478,000 after purchasing an additional 148,235 shares during the period. American Century Companies Inc. grew its holdings in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company's stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company's stock worth $282,347,000 after buying an additional 263,188 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of General Mills from $70.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday. Stifel Nicolaus cut their target price on General Mills from $82.00 to $78.00 and set a "buy" rating on the stock in a research note on Thursday. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, September 19th. Citigroup cut their price objective on General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills has an average rating of "Hold" and an average price target of $71.56.

General Mills Stock Down 0.6 %

Shares of GIS stock traded down $0.40 during trading hours on Friday, hitting $63.61. 10,672,876 shares of the company's stock traded hands, compared to its average volume of 3,984,130. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock's fifty day simple moving average is $66.47 and its two-hundred day simple moving average is $68.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The stock has a market cap of $35.06 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS - Get Free Report) last announced 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 26.85% and a net margin of 12.14%. The business 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 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, January 10th. General Mills's dividend payout ratio (DPR) is currently 52.17%.

Insider Activity at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares of the company's stock, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,230 shares of company stock valued at $4,547,822 over the last 90 days. Corporate insiders own 0.26% of the company's stock.

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.