Town & Country Bank & Trust CO dba First Bankers Trust CO reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 57.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,865 shares of the company’s stock after selling 13,515 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in General Mills were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of General Mills by 23.9% in the third quarter. FMR LLC now owns 1,936,517 shares of the company’s stock valued at $83,116,000 after purchasing an additional 373,384 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in General Mills by 22.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,037,342 shares of the company’s stock worth $87,444,000 after buying an additional 370,708 shares during the period. Franklin Resources Inc. boosted its stake in General Mills by 2.0% during the third quarter. Franklin Resources Inc. now owns 452,033 shares of the company’s stock worth $19,400,000 after buying an additional 8,789 shares during the period. GSA Capital Partners LLP purchased a new position in General Mills during the third quarter worth $383,000. Finally, Tower Research Capital LLC TRC boosted its stake in General Mills by 112.9% during the third quarter. Tower Research Capital LLC TRC now owns 7,879 shares of the company’s stock worth $338,000 after buying an additional 4,178 shares during the period. 68.89% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on GIS. Wells Fargo & Co lifted their price objective on shares of General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price objective on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Credit Suisse Group lifted their price objective on shares of General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Finally, Citigroup reaffirmed a “top pick” rating and set a $60.00 price objective (up from $54.00) on shares of General Mills in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. General Mills has an average rating of “Hold” and an average target price of $49.91.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 63.02%.
In other news, insider John R. Church sold 4,719 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares in the company, valued at approximately $1,732,207.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donal L. Mulligan sold 126,337 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $50.00, for a total value of $6,316,850.00. Following the transaction, the chief financial officer now owns 378,663 shares of the company’s stock, valued at $18,933,150. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 452,071 shares of company stock valued at $22,112,181. Company insiders own 0.59% of the company’s stock.
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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, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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