General Mills, Inc. (NYSE:GIS) Shares Acquired by American National Bank

American National Bank raised its position in shares of General Mills, Inc. (NYSE:GIS) by 41.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,906 shares of the company’s stock after buying an additional 858 shares during the quarter. American National Bank’s holdings in General Mills were worth $184,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cetera Trust Company N.A acquired a new stake in shares of General Mills during the 4th quarter worth approximately $50,000. Optimist Retirement Group LLC bought a new stake in General Mills in the fourth quarter valued at $1,171,000. State Board of Administration of Florida Retirement System grew its position in shares of General Mills by 5.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after acquiring an additional 96,712 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in General Mills by 122.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after purchasing an additional 13,043 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GIS. Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $62.00 to $70.00 in a research report on Wednesday, May 15th. Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Argus reissued a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, June 27th. Finally, Stifel Nicolaus decreased their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.71.

General Mills Stock Up 0.1 %

Shares of GIS stock traded up $0.04 on Thursday, reaching $70.67. 1,819,926 shares of the company’s stock traded hands, compared to its average volume of 4,003,301. The business’s 50 day moving average price is $66.12 and its two-hundred day moving average price is $67.15. The company has a market capitalization of $39.44 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $74.45.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. On average, equities analysts forecast 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 Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. General Mills’s payout ratio is currently 55.68%.

General Mills Company 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 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.