Private Trust Co. NA Buys 728 Shares of General Mills, Inc. $GIS

Private Trust Co. NA boosted its stake in General Mills, Inc. (NYSE:GIS) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,875 shares of the company’s stock after purchasing an additional 728 shares during the quarter. Private Trust Co. NA’s holdings in General Mills were worth $615,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GIS. Charles Schwab Investment Management Inc. raised its position in shares of General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in General Mills in the first quarter valued at approximately $279,570,000. Pacer Advisors Inc. increased its stake in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after purchasing an additional 3,373,338 shares in the last quarter. Nuveen LLC acquired a new stake in General Mills in the first quarter worth $92,717,000. Finally, Federated Hermes Inc. boosted its position in shares of General Mills by 178.1% during the first quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock worth $90,908,000 after purchasing an additional 973,798 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. HSBC lowered their price target on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Bank of America cut their price objective on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.82.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Up 1.6%

GIS stock opened at $48.48 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $25.86 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.22 and a beta of -0.03. General Mills, Inc. has a fifty-two week low of $47.48 and a fifty-two week high of $70.60. The business has a 50-day moving average of $49.65 and a 200-day moving average of $52.32.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

About General Mills

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.