Argent Trust Co Cuts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Argent Trust Co lowered its stake in General Mills, Inc. (NYSE:GIS) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,739 shares of the company’s stock after selling 467 shares during the period. Argent Trust Co’s holdings in General Mills were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meiji Yasuda Life Insurance Co bought a new stake in General Mills in the second quarter valued at approximately $362,000. Mercer Global Advisors Inc. ADV raised its holdings in General Mills by 3.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 240,598 shares of the company’s stock valued at $15,220,000 after buying an additional 7,602 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in General Mills by 22.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 37,485 shares of the company’s stock valued at $2,371,000 after buying an additional 6,880 shares during the last quarter. Virtu Financial LLC bought a new stake in General Mills in the 2nd quarter worth $1,295,000. Finally, Plancorp LLC increased its position in shares of General Mills by 4.3% in the second quarter. Plancorp LLC now owns 7,232 shares of the company’s stock valued at $458,000 after acquiring an additional 300 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.1 %

General Mills stock opened at $74.90 on Friday. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The business’s fifty day simple moving average is $69.69 and its two-hundred day simple moving average is $68.44. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is 55.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GIS shares. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Citigroup upped their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler lifted 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $71.93.

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.