SouthState Corp Trims Stock Position in General Mills, Inc. (NYSE:GIS)

SouthState Corp cut its holdings in shares of General Mills, Inc. (NYSE:GISGet Rating) by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,583 shares of the company’s stock after selling 305 shares during the quarter. SouthState Corp’s holdings in General Mills were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GIS. Marquette Asset Management LLC purchased a new position in General Mills during the first quarter worth about $26,000. HWG Holdings LP purchased a new position in General Mills during the fourth quarter worth about $30,000. Riverview Trust Co lifted its position in General Mills by 204.7% during the first quarter. Riverview Trust Co now owns 457 shares of the company’s stock worth $31,000 after buying an additional 307 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC lifted its position in General Mills by 67.8% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 515 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. Finally, Quent Capital LLC purchased a new position in General Mills during the fourth quarter worth about $37,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Credit Suisse Group set a $74.00 target price on General Mills in a research report on Tuesday, July 19th. Piper Sandler raised their price objective on General Mills from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, June 30th. Royal Bank of Canada raised their price objective on General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, July 1st. Citigroup raised their price objective on General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Finally, Morgan Stanley raised their price objective on General Mills from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.73.

Insider Buying and Selling at General Mills

In other General Mills news, CAO Mark A. Pallot sold 2,255 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the transaction, the chief accounting officer now owns 17,087 shares of the company’s stock, valued at approximately $1,275,715.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other General Mills news, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total transaction of $837,226.88. Following the transaction, the insider now owns 14,884 shares of the company’s stock, valued at approximately $1,133,565.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark A. Pallot sold 2,255 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total value of $168,358.30. Following the transaction, the chief accounting officer now directly owns 17,087 shares in the company, valued at approximately $1,275,715.42. The disclosure for this sale can be found here. Insiders sold a total of 42,737 shares of company stock worth $3,217,260 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

General Mills Price Performance

Shares of NYSE GIS opened at $75.52 on Friday. General Mills, Inc. has a fifty-two week low of $56.67 and a fifty-two week high of $76.94. The business has a 50 day moving average price of $71.99 and a two-hundred day moving average price of $69.64. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 0.85. The firm has a market cap of $45.10 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35.

General Mills (NYSE:GISGet Rating) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the firm earned $0.91 EPS. General Mills’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 4 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, July 7th. Shareholders of record on Friday, July 8th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio (DPR) is presently 48.87%.

General Mills Company Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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