Huntington National Bank Has $3.96 Million Holdings in General Mills, Inc. (NYSE:GIS)

Huntington National Bank decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,061 shares of the company’s stock after selling 2,420 shares during the period. Huntington National Bank’s holdings in General Mills were worth $3,958,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares during the period. State Street Corp increased its position in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. Geode Capital Management LLC lifted its holdings in shares of General Mills by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after buying an additional 136,895 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of General Mills by 64.5% in the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares during the period. Finally, Norges Bank acquired a new stake in shares of General Mills in the fourth quarter worth $496,484,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Down 0.9 %

NYSE GIS opened at $59.21 on Thursday. The stock’s 50 day simple moving average is $59.96 and its 200 day simple moving average is $64.39. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The firm has a market cap of $32.64 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Jefferies Financial Group lifted their target price on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Morgan Stanley initiated coverage on General Mills in a research note on Monday, March 24th. They issued an “underweight” rating and a $53.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.69.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company 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.