United Community Bank Has $2.41 Million Position in General Mills, Inc. (NYSE:GIS)

United Community Bank grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,800 shares of the company’s stock after buying an additional 1,115 shares during the period. General Mills makes up 0.9% of United Community Bank’s investment portfolio, making the stock its 19th biggest holding. United Community Bank’s holdings in General Mills were worth $2,411,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Endeavor Private Wealth Inc. acquired a new position in shares of General Mills during the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills in the fourth quarter valued at about $31,000. Planning Capital Management Corp increased its stake in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the period. Bank of Jackson Hole Trust bought a new stake in General Mills in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new stake in General Mills in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler lowered their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Barclays decreased their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Stifel Nicolaus decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.06.

General Mills Price Performance

GIS opened at $64.53 on Friday. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company’s 50 day simple moving average is $60.33 and its 200-day simple moving average is $66.00. The stock has a market capitalization of $35.57 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. General Mills’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.72%. General Mills’s dividend payout ratio is currently 52.17%.

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.