Grove Bank & Trust Sells 539 Shares of General Mills, Inc. (NYSE:GIS)

Grove Bank & Trust lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.2% in the third quarter, Holdings Channel reports. The institutional investor owned 3,897 shares of the company’s stock after selling 539 shares during the period. Grove Bank & Trust’s holdings in General Mills were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Rise Advisors LLC lifted its stake in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Perkins Coie Trust Co grew its position in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. Finally, GoalVest Advisory LLC grew its position in shares of General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

GIS has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

General Mills Stock Up 0.1 %

GIS stock opened at $70.88 on Tuesday. The company has a market capitalization of $39.56 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 12 month low of $61.47 and a 12 month high of $75.90. The firm’s fifty day simple moving average is $72.20 and its 200-day simple moving average is $69.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, equities research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

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.