General Mills, Inc. $GIS Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 77.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,775 shares of the company’s stock after selling 222,280 shares during the period. Glenmede Trust Co. NA’s holdings in General Mills were worth $2,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in shares of General Mills by 1.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock valued at $565,000 after buying an additional 225 shares in the last quarter. Allegheny Financial Group lifted its stake in General Mills by 4.8% during the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock worth $228,000 after acquiring an additional 226 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in General Mills by 0.7% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after acquiring an additional 226 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in General Mills by 3.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock valued at $320,000 after acquiring an additional 247 shares during the period. Finally, Montag A & Associates Inc. grew its position in General Mills by 5.7% in the 4th quarter. Montag A & Associates Inc. now owns 4,648 shares of the company’s stock valued at $216,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GIS. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price target on shares of General Mills in a research note on Tuesday, June 2nd. Morgan Stanley dropped their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 5th. Wells Fargo & Company upped their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. TD Cowen reduced their target price on shares of General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Finally, BNP Paribas Exane raised their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Price Performance

General Mills stock opened at $36.23 on Wednesday. The stock has a market cap of $19.34 billion, a P/E ratio of -201.26 and a beta of -0.03. The company has a fifty day simple moving average of $35.41 and a 200-day simple moving average of $38.32. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. General Mills’s revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio is currently -1,355.56%.

Insider Transactions at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.