Private Trust Co. NA Increases Holdings in General Mills, Inc. (NYSE:GIS)

Private Trust Co. NA increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,700 shares of the company’s stock after purchasing an additional 420 shares during the period. Private Trust Co. NA’s holdings in General Mills were worth $790,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the period. Swedbank AB purchased a new stake in shares of General Mills in the first quarter worth $36,177,000. International Assets Investment Management LLC boosted its stake in General Mills by 6,114.0% during the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after buying an additional 443,202 shares during the period. Finally, Legal & General Group Plc increased its stake in General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.7 %

Shares of GIS opened at $66.02 on Wednesday. The firm has a fifty day simple moving average of $69.29 and a two-hundred day simple moving average of $68.55. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The stock has a market capitalization of $36.65 billion, a P/E ratio of 15.72, a PEG ratio of 3.38 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 EPS. General Mills’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Barclays increased their price target 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. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.67.

Insider Buying and Selling at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by company insiders.

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.