Farmers Trust Co. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,690 shares of the company’s stock after selling 600 shares during the period. Farmers Trust Co.’s holdings in General Mills were worth $1,323,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Ellevest Inc. acquired a new stake in General Mills during the 2nd quarter valued at $28,000. Capital International Ltd. CA acquired a new stake in General Mills during the 2nd quarter valued at $30,000. KCS Wealth Advisory acquired a new stake in General Mills during the 3rd quarter valued at $36,000. Quest Capital Management Inc. ADV acquired a new stake in General Mills during the 3rd quarter valued at $37,000. Finally, Venturi Wealth Management LLC acquired a new stake in General Mills during the 3rd quarter valued at $41,000. 69.56% of the stock is owned by institutional investors and hedge funds.
NYSE GIS traded up $0.37 during trading hours on Wednesday, reaching $53.37. 3,213,095 shares of the company traded hands, compared to its average volume of 3,772,989. General Mills, Inc. has a 12 month low of $41.69 and a 12 month high of $56.40. The company has a current ratio of 0.61, a quick ratio of 0.37 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $32.24 billion, a PE ratio of 16.57, a PEG ratio of 2.20 and a beta of 0.72. The company has a 50 day moving average of $52.82 and a two-hundred day moving average of $53.24.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.49 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.67%. General Mills’s payout ratio is currently 60.87%.
A number of research firms recently weighed in on GIS. Barclays reaffirmed a “hold” rating and set a $55.00 price target on shares of General Mills in a report on Friday, September 20th. BMO Capital Markets raised their price target on shares of General Mills from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Stifel Nicolaus raised their price target on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 price objective on shares of General Mills in a research note on Wednesday, December 18th. Finally, Deutsche Bank began coverage on shares of General Mills in a research note on Wednesday, December 11th. They set a “buy” rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.50.
General Mills Company 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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