General Mills, Inc. $GIS Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. trimmed its stake in General Mills, Inc. (NYSE:GIS) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,884 shares of the company’s stock after selling 1,705 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in General Mills were worth $771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIS. Charles Schwab Investment Management Inc. lifted its position in General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in General Mills in the first quarter valued at $279,570,000. Pacer Advisors Inc. lifted its position in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares during the last quarter. Nuveen LLC purchased a new stake in General Mills in the first quarter valued at $92,717,000. Finally, Federated Hermes Inc. lifted its position in General Mills by 178.1% in the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after acquiring an additional 973,798 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.8%

GIS stock opened at $50.32 on Friday. General Mills, Inc. has a one year low of $48.29 and a one year high of $73.78. The stock has a market capitalization of $26.84 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 1.28 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The company has a fifty day moving average of $49.75 and a 200-day moving average of $53.12.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the business earned $1.07 EPS. The business’s revenue was down 6.8% on a year-over-year basis. As a group, analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills’s dividend payout ratio (DPR) is 46.12%.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GIS shares. HSBC lowered their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Bernstein Bank lowered their price objective on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada raised shares of General Mills from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.82.

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.