Farmers Trust Co. Lowers Stock Holdings in General Mills, Inc. (NYSE:GIS)

Farmers Trust Co. lowered its position in General Mills, Inc. (NYSE:GIS) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,792 shares of the company’s stock after selling 1,036 shares during the period. Farmers Trust Co.’s holdings in General Mills were worth $1,831,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Rafferty Asset Management LLC raised its stake in General Mills by 3.5% during the 4th quarter. Rafferty Asset Management LLC now owns 45,106 shares of the company’s stock valued at $2,938,000 after purchasing an additional 1,507 shares during the period. Lake Street Advisors Group LLC purchased a new position in General Mills during the fourth quarter valued at $244,000. Capital World Investors increased its holdings in General Mills by 7.6% in the 4th quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after acquiring an additional 501,717 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in General Mills by 189.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 79,190 shares of the company’s stock worth $5,158,000 after purchasing an additional 51,796 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of General Mills by 5.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,296 shares of the company’s stock valued at $2,560,000 after purchasing an additional 2,075 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GIS. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Stifel Nicolaus lifted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Mizuho lowered their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.73.

General Mills Stock Performance

Shares of General Mills stock opened at $73.04 on Friday. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90. The stock’s fifty day moving average price is $71.60 and its 200-day moving average price is $69.04. The firm has a market cap of $40.77 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.82 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

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.