First National Trust Co Sells 3,733 Shares of General Mills, Inc. (NYSE:GIS)

First National Trust Co lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,094 shares of the company’s stock after selling 3,733 shares during the quarter. First National Trust Co’s holdings in General Mills were worth $2,001,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GIS. Vanguard Group Inc. grew its position in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Capital Research Global Investors grew its holdings in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the period. Legal & General Group Plc raised its stake in shares of General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after buying an additional 323,090 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of General Mills by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after buying an additional 148,235 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after acquiring an additional 2,368,563 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GIS. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barclays lifted their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.00.

General Mills Stock Performance

General Mills stock opened at $64.26 on Wednesday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The firm’s fifty day moving average price is $71.44 and its 200-day moving average price is $69.00. The stock has a market cap of $35.67 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 3.37 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.73%. General Mills’s payout ratio is 57.14%.

Insider Transactions at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction 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 in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by insiders.

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.