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

Grove Bank & Trust lifted its stake in General Mills, Inc. (NYSE:GIS) by 23.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,747 shares of the company’s stock after buying an additional 892 shares during the quarter. Grove Bank & Trust’s holdings in General Mills were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GIS. O Shaughnessy Asset Management LLC raised its position in shares of General Mills by 11.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock valued at $53,211,000 after purchasing an additional 85,612 shares during the period. Franklin Resources Inc. lifted its holdings in shares of General Mills by 10.6% in the fourth quarter. Franklin Resources Inc. now owns 484,550 shares of the company’s stock worth $30,900,000 after buying an additional 46,536 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of General Mills by 34.5% during the fourth 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. Daiwa Securities Group Inc. grew its stake in General Mills by 7.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock valued at $4,652,000 after acquiring an additional 4,839 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in General Mills by 15.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock valued at $2,749,000 after acquiring an additional 5,853 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE GIS opened at $53.07 on Wednesday. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.25 and a beta of 0.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.67 and a quick ratio of 0.44. The stock’s fifty day moving average price is $55.22 and its 200 day moving average price is $59.07. General Mills, Inc. has a 1 year low of $52.39 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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 return on equity of 26.39% and a net margin of 13.02%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the business posted $1.17 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GIS. Morgan Stanley began coverage on General Mills in a research report on Monday, March 24th. They issued an “underweight” rating and a $53.00 target price on the stock. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Bank of America decreased their price target on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Mizuho lowered their price objective on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Finally, Citigroup dropped their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.06.

About General Mills

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.