Private Trust Co. NA Acquires 420 Shares of General Mills, Inc. (NYSE:GIS)

Private Trust Co. NA raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.1% in the third quarter, according to its most recent Form 13F 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 recently made changes to their positions in the company. Arkadios Wealth Advisors raised its stake in General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after purchasing an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in General Mills by 92.5% in the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after purchasing an additional 23,411 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after purchasing an additional 104,436 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in General Mills by 10.5% during the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after purchasing an additional 11,334 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

GIS opened at $66.02 on Wednesday. The company has a 50 day simple moving average of $69.29 and a two-hundred day simple moving average of $68.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a market cap of $36.65 billion, a P/E ratio of 15.72, a PEG ratio of 3.38 and a beta of 0.11. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

Insider Buying and Selling

In other General Mills news, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,555 shares of company stock valued at $4,721,336. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group began coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Finally, Barclays raised their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.67.

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.