Grove Bank & Trust Grows Stock Holdings in General Mills, Inc. (NYSE:GIS)

Grove Bank & Trust lifted its stake in General Mills, Inc. (NYSE:GIS) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,747 shares of the company’s stock after acquiring an additional 892 shares during the period. Grove Bank & Trust’s holdings in General Mills were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in General Mills in the 4th quarter worth approximately $496,484,000. Ameriprise Financial Inc. increased its stake in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after acquiring an additional 1,868,508 shares during the last quarter. LSV Asset Management boosted its position in shares of General Mills by 115.2% during the 4th quarter. LSV Asset Management now owns 2,817,780 shares of the company’s stock valued at $179,690,000 after acquiring an additional 1,508,680 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of General Mills in the fourth quarter worth approximately $80,994,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Wells Fargo & Company cut their target price on General Mills from $61.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Royal Bank Of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Finally, The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.06.

General Mills Trading Down 0.9%

GIS opened at $53.07 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.24. The stock has a market cap of $29.25 billion, a PE ratio of 11.66, a PEG ratio of 1.25 and a beta of 0.02. The business has a 50 day moving average of $55.22 and a 200-day moving average of $59.07. General Mills, Inc. has a 52 week low of $52.39 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.02% and a return on equity of 26.39%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills 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.