Coastline Trust Co Sells 2,410 Shares of General Mills, Inc. (NYSE:GIS)

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

Other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new position in shares of General Mills during the 3rd quarter worth about $27,000. First Foundation Advisors lifted its stake in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Planning Capital Management Corp boosted its holdings in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of General Mills in the 2nd quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC raised its holdings in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 2.3 %

NYSE GIS opened at $63.21 on Friday. The stock has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 3.35 and a beta of 0.11. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock has a fifty day moving average of $70.67 and a 200-day moving average of $68.84.

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

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.80%. General Mills’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

GIS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. TD Cowen increased their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company reduced their price target 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. Finally, Barclays raised their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus target price of $72.67.

Insider Buying and Selling at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 35.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.26% of the stock is currently owned by insiders.

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.