First Bank & Trust increased its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,701 shares of the company’s stock after buying an additional 406 shares during the period. First Bank & Trust’s holdings in General Mills were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new stake in General Mills during the first quarter worth about $23,614,735,000. Disciplined Investments LLC boosted its holdings in General Mills by 245.9% during the first quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock worth $25,000 after buying an additional 209 shares in the last quarter. FWL Investment Management LLC purchased a new stake in General Mills during the fourth quarter worth about $25,000. AXS Investments LLC purchased a new stake in General Mills during the fourth quarter worth about $30,000. Finally, Almanack Investment Partners LLC. purchased a new stake in General Mills during the third quarter worth about $28,000. Hedge funds and other institutional investors own 75.31% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on GIS shares. JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company reduced their price target on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, September 7th. Morgan Stanley reduced their price target on shares of General Mills from $77.00 to $72.00 in a report on Thursday, June 29th. Piper Sandler reduced their price target on shares of General Mills from $88.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday. Finally, StockNews.com initiated coverage on shares of General Mills in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $78.11.
General Mills Stock Performance
Shares of NYSE GIS traded down $0.14 during midday trading on Monday, hitting $65.71. The company’s stock had a trading volume of 1,578,880 shares, compared to its average volume of 3,498,683. General Mills, Inc. has a 1-year low of $64.70 and a 1-year high of $90.89. The firm’s fifty day moving average price is $71.24 and its 200-day moving average price is $79.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.40 and a current ratio of 0.69. The firm has a market cap of $38.19 billion, a P/E ratio of 15.23, a P/E/G ratio of 2.21 and a beta of 0.24.
General Mills (NYSE:GIS – Get Free Report) last issued its quarterly earnings data on Wednesday, June 28th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.18 billion. General Mills had a net margin of 12.91% and a return on equity of 24.47%. General Mills’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 4.48 EPS for the current fiscal year.
General Mills Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, July 7th. This is an increase from General Mills’s previous quarterly dividend of $0.54. This represents a $2.36 annualized dividend and a yield of 3.59%. General Mills’s dividend payout ratio (DPR) is currently 54.76%.
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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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