General Mills, Inc. (NYSE:GIS) Shares Sold by First National Trust Co

First National Trust Co cut its stake in General Mills, Inc. (NYSE:GIS) by 6.5% in the fourth quarter, Holdings Channel reports. The firm owned 25,326 shares of the company’s stock after selling 1,768 shares during the period. First National Trust Co’s holdings in General Mills were worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. Nordea Investment Management AB lifted its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the period. JPMorgan Chase & Co. grew its stake in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Amundi increased its holdings in shares of General Mills by 9.7% in the fourth quarter. Amundi now owns 4,082,376 shares of the company’s stock valued at $248,902,000 after purchasing an additional 360,368 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of General Mills by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after purchasing an additional 207,346 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. TD Cowen reduced their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Mizuho lowered their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Finally, Piper Sandler decreased their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $67.71.

General Mills Price Performance

Shares of NYSE GIS opened at $59.53 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a fifty day moving average of $60.10 and a 200 day moving average of $65.70. The firm has a market cap of $32.82 billion, a PE ratio of 12.94, a PEG ratio of 1.94 and a beta of 0.06. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. As a group, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

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 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.