MEMBERS Trust Co cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,478 shares of the company’s stock after selling 360 shares during the period. MEMBERS Trust Co’s holdings in General Mills were worth $478,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GIS. Penserra Capital Management LLC increased its position in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock valued at $110,000 after buying an additional 864 shares during the last quarter. Lenox Wealth Advisors Inc. increased its position in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares during the last quarter. Hanson & Doremus Investment Management increased its position in General Mills by 5.7% in the second quarter. Hanson & Doremus Investment Management now owns 1,866 shares of the company’s stock valued at $133,000 after buying an additional 100 shares during the last quarter. Advisory Services Network LLC increased its position in General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock valued at $127,000 after buying an additional 48 shares during the last quarter. Finally, Hanson McClain Inc. increased its position in General Mills by 1.4% in the second quarter. Hanson McClain Inc. now owns 2,344 shares of the company’s stock valued at $167,000 after buying an additional 33 shares during the last quarter. 69.77% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) opened at 62.89 on Tuesday. General Mills, Inc. has a 12-month low of $56.02 and a 12-month high of $72.95. The stock’s 50 day moving average price is $62.03 and its 200 day moving average price is $64.16. The firm has a market cap of $36.48 billion, a PE ratio of 23.48 and a beta of 0.56.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Tuesday, December 20th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. The business earned $4.10 billion during the quarter, compared to the consensus estimate of $4.23 billion. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities research analysts predict that General Mills, Inc. will post $3.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, January 6th. General Mills’s payout ratio is presently 71.64%.
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Several research firms recently weighed in on GIS. Barclays PLC dropped their price objective on General Mills from $66.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 21st. RBC Capital Markets downgraded General Mills from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $73.00 to $69.00 in a research report on Thursday, December 15th. Zacks Investment Research downgraded General Mills from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Royal Bank Of Canada downgraded General Mills from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $73.00 to $69.00 in a research report on Thursday, December 15th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of General Mills in a research report on Tuesday, December 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and a consensus target price of $66.83.
In other news, Director Robert L. Ryan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $60.83, for a total value of $1,216,600.00. Following the completion of the transaction, the director now directly owns 54,676 shares in the company, valued at approximately $3,325,941.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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