General Mills, Inc. (NYSE:GIS) Shares Bought by Smithfield Trust Co

Smithfield Trust Co raised its stake in General Mills, Inc. (NYSE:GIS) by 39.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the company’s stock after buying an additional 404 shares during the quarter. Smithfield Trust Co’s holdings in General Mills were worth $90,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in 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 purchasing an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB lifted its stake in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 2,926,232 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in General Mills by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after acquiring an additional 207,346 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock valued at $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Mizuho reduced their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. TD Cowen lowered their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, Bank of America lowered their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Trading Down 0.3 %

GIS opened at $60.96 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The business’s 50 day moving average is $60.35 and its two-hundred day moving average is $66.09. The firm has a market cap of $33.60 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.94%. General Mills’s payout ratio is 52.17%.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.