Cambridge Trust Co. Sells 250 Shares of General Mills, Inc. (NYSE:GIS)

Cambridge Trust Co. lessened its stake in General Mills, Inc. (NYSE:GIS) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,713 shares of the company’s stock after selling 250 shares during the period. Cambridge Trust Co.’s holdings in General Mills were worth $1,685,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of General Mills by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,358,325 shares of the company’s stock valued at $951,206,000 after buying an additional 50,601 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of General Mills by 123,599.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after buying an additional 11,067,051 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of General Mills by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after purchasing an additional 75,902 shares during the period. Morgan Stanley lifted its stake in shares of General Mills by 14.6% in the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares during the period. Finally, Norges Bank acquired a new position in shares of General Mills in the 4th quarter valued at about $382,081,000. Institutional investors own 75.31% of the company’s stock.

General Mills Stock Performance

General Mills stock traded down $1.41 during mid-day trading on Friday, reaching $66.25. 4,404,561 shares of the company’s stock were exchanged, compared to its average volume of 3,462,558. The business’s fifty day simple moving average is $73.58 and its 200 day simple moving average is $80.31. The firm has a market capitalization of $38.50 billion, a PE ratio of 15.37, a P/E/G ratio of 2.03 and a beta of 0.23. General Mills, Inc. has a one year low of $65.90 and a one year high of $90.89. The company has a quick ratio of 0.40, a current ratio of 0.69 and a debt-to-equity ratio of 0.93.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.18 billion. General Mills had a return on equity of 24.47% and a net margin of 12.91%. General Mills’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. On average, sell-side analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.59 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, July 7th. General Mills’s dividend payout ratio (DPR) is currently 54.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIS. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $86.00 to $82.00 in a research note on Thursday, June 29th. 888 reissued a “maintains” rating on shares of General Mills in a research note on Thursday, June 29th. Bank of America dropped their price target on General Mills from $82.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 23rd. Piper Sandler dropped their price target on General Mills from $95.00 to $88.00 in a research note on Thursday, June 29th. Finally, Wells Fargo & Company dropped their price target on General Mills from $89.00 to $80.00 in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.89.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.