American Trust Trims Holdings in General Mills, Inc. (NYSE:GIS)

American Trust cut its holdings in General Mills, Inc. (NYSE:GISGet Rating) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,020 shares of the company’s stock after selling 297 shares during the quarter. American Trust’s holdings in General Mills were worth $205,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IFM Investors Pty Ltd grew its position in General Mills by 17.0% during the 1st quarter. IFM Investors Pty Ltd now owns 90,359 shares of the company’s stock valued at $6,119,000 after purchasing an additional 13,104 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in General Mills by 6.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 178,327 shares of the company’s stock valued at $12,076,000 after purchasing an additional 10,664 shares during the last quarter. Checchi Capital Advisers LLC grew its position in General Mills by 9.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,681 shares of the company’s stock valued at $385,000 after purchasing an additional 514 shares during the last quarter. Carmignac Gestion purchased a new stake in General Mills during the 1st quarter valued at about $597,000. Finally, Bison Wealth LLC grew its position in General Mills by 3.1% during the 1st quarter. Bison Wealth LLC now owns 13,263 shares of the company’s stock valued at $898,000 after purchasing an additional 402 shares during the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of NYSE:GIS opened at $75.83 on Tuesday. General Mills, Inc. has a twelve month low of $57.47 and a twelve month high of $78.54. The stock has a market capitalization of $45.17 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.51 and a beta of 0.33. The firm’s 50 day moving average price is $75.93 and its 200-day moving average price is $71.55. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 0.85.

General Mills (NYSE:GISGet Rating) last released its earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the business earned $0.91 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that General Mills, Inc. will post 4 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced 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 payout ratio is 48.87%.

Insiders Place Their Bets

In other General Mills news, insider Jodi J. Benson sold 15,685 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the sale, the insider now owns 38,085 shares in the company, valued at approximately $2,865,896.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Mills news, insider Jodi J. Benson sold 15,685 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the sale, the insider now directly owns 38,085 shares of the company’s stock, valued at approximately $2,865,896.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $76.16, for a total transaction of $837,226.88. Following the sale, the insider now directly owns 14,884 shares of the company’s stock, valued at $1,133,565.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,422 shares of company stock worth $4,397,556. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of General Mills from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Friday, July 1st. BMO Capital Markets upped their target price on shares of General Mills from $66.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, June 30th. Citigroup upped their target price on shares of General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Royal Bank of Canada upped their target price on shares of General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Mills from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.64.

About General Mills

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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.

See Also

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

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