Farmers Trust Co. Has $1.54 Million Stake in General Mills, Inc. (NYSE:GIS)

Farmers Trust Co. reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,079 shares of the company’s stock after selling 713 shares during the period. Farmers Trust Co.’s holdings in General Mills were worth $1,536,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the period. JPMorgan Chase & Co. grew its position in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares during the period. State Street Corp increased its stake in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares in the last quarter. American Century Companies Inc. lifted its position 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 valued at $299,138,000 after acquiring an additional 2,368,563 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in General Mills by 6,140.4% during the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after acquiring an additional 930,271 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of NYSE GIS traded down $0.12 during mid-day trading on Wednesday, reaching $60.77. 2,423,754 shares of the company’s stock were exchanged, compared to its average volume of 3,652,797. The firm has a 50-day moving average price of $65.00 and a two-hundred day moving average price of $67.84. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a market capitalization of $33.50 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11. General Mills, Inc. has a 52 week low of $59.70 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. Analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.95%. General Mills’s payout ratio is 52.17%.

Insider Buying and Selling

In other General Mills news, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,624 shares of company stock valued at $3,897,326. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GIS. TD Cowen decreased their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Barclays dropped their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, December 19th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company decreased their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.31.

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.