Indiana Trust & Investment Management CO decreased its holdings in General Mills, Inc. (NYSE:GIS) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,075 shares of the company’s stock after selling 1,000 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in General Mills were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pflug Koory LLC raised its holdings in General Mills by 349.0% in the fourth quarter. Pflug Koory LLC now owns 449 shares of the company’s stock worth $26,000 after purchasing an additional 349 shares in the last quarter. Cypress Point Wealth Management LLC bought a new position in General Mills in the fourth quarter worth $28,000. SOA Wealth Advisors LLC. bought a new position in General Mills in the fourth quarter worth $36,000. Wolff Wiese Magana LLC bought a new position in General Mills in the fourth quarter worth $41,000. Finally, Cascade Investment Advisors Inc. raised its holdings in General Mills by 36.4% in the fourth quarter. Cascade Investment Advisors Inc. now owns 750 shares of the company’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 73.17% of the company’s stock.
NYSE:GIS traded down $0.37 on Thursday, hitting $61.02. The stock had a trading volume of 58,536 shares, compared to its average volume of 4,970,195. The stock has a market cap of $37.22 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.98 and a beta of 0.57. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 1.24. The business’s 50-day simple moving average is $58.47 and its two-hundred day simple moving average is $59.15. General Mills, Inc. has a 52-week low of $53.96 and a 52-week high of $66.14.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). General Mills had a return on equity of 28.60% and a net margin of 13.16%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills, Inc. will post 3.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.34%. The ex-dividend date is Thursday, April 8th. General Mills’s dividend payout ratio (DPR) is presently 56.51%.
In related news, insider John R. Church sold 27,000 shares of General Mills stock in a transaction that occurred on Thursday, January 28th. The stock was sold at an average price of $60.35, for a total transaction of $1,629,450.00. Following the sale, the insider now owns 76,916 shares of the company’s stock, valued at approximately $4,641,880.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 1,574 shares of General Mills stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $62.49, for a total value of $98,359.26. Following the sale, the chief accounting officer now directly owns 13,760 shares in the company, valued at approximately $859,862.40. The disclosure for this sale can be found here. Insiders have sold a total of 62,532 shares of company stock worth $3,821,346 in the last three months. 0.51% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on GIS. Credit Suisse Group reduced their price target on General Mills from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, March 29th. Morgan Stanley reduced their price target on General Mills from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, January 14th. JPMorgan Chase & Co. reduced their price target on General Mills from $62.00 to $55.00 in a report on Tuesday, January 19th. Finally, Jefferies Financial Group reduced their price target on General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, January 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. General Mills currently has an average rating of “Hold” and a consensus price target of $63.27.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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