Orrstown Financial Services Inc. Has $1,407,000 Stake in General Mills Inc. (GIS)
Orrstown Financial Services Inc. decreased its position in General Mills Inc. (NYSE:GIS) by 4.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,033 shares of the company’s stock after selling 1,069 shares during the period. General Mills makes up approximately 1.5% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 14th largest position. Orrstown Financial Services Inc.’s holdings in General Mills were worth $1,407,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in GIS. Prospera Financial Services Inc boosted its stake in General Mills by 10.9% in the third quarter. Prospera Financial Services Inc now owns 5,931 shares of the company’s stock worth $379,000 after buying an additional 585 shares during the period. Nisa Investment Advisors LLC boosted its stake in General Mills by 0.5% in the third quarter. Nisa Investment Advisors LLC now owns 265,037 shares of the company’s stock worth $16,931,000 after buying an additional 1,200 shares during the period. Capstone Asset Management Co. boosted its stake in General Mills by 4.8% in the third quarter. Capstone Asset Management Co. now owns 239,417 shares of the company’s stock worth $15,294,000 after buying an additional 10,972 shares during the period. Fox Run Management L.L.C. acquired a new stake in General Mills during the third quarter worth $492,000. Finally, Atria Investments LLC boosted its stake in General Mills by 8.4% in the third quarter. Atria Investments LLC now owns 24,454 shares of the company’s stock worth $1,562,000 after buying an additional 1,890 shares during the period. Institutional investors own 67.98% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded down 2.74% during mid-day trading on Wednesday, reaching $60.94. The company had a trading volume of 5,940,025 shares. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95. The stock has a 50 day moving average price of $61.59 and a 200-day moving average price of $66.04. The stock has a market capitalization of $36.04 billion, a P/E ratio of 22.16 and a beta of 0.55.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The firm had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Equities analysts anticipate that General Mills Inc. will post $3.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were paid a $0.48 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $1.92 annualized dividend and a dividend yield of 3.15%. General Mills’s payout ratio is presently 69.82%.
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A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC restated an “equal weight” rating and issued a $66.00 price target on shares of General Mills in a research note on Friday, September 23rd. Credit Suisse Group AG restated a “hold” rating and issued a $74.00 price target on shares of General Mills in a research note on Thursday, September 8th. BMO Capital Markets restated a “hold” rating and issued a $74.00 price target on shares of General Mills in a research note on Thursday, September 22nd. Finally, S&P Equity Research reiterated a “buy” rating and set a $70.00 price objective on shares of General Mills in a research report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.56.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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