Equitable Trust Co. Raises Stock Holdings in General Mills, Inc. (NYSE:GIS)

Equitable Trust Co. increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 80.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,459 shares of the company's stock after purchasing an additional 25,172 shares during the quarter. Equitable Trust Co.'s holdings in General Mills were worth $4,169,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its stake in shares of General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company's stock worth $2,309,000 after purchasing an additional 10,765 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company's stock valued at $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company's stock worth $48,711,000 after purchasing an additional 96,712 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of General Mills by 92.5% in the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company's stock worth $3,409,000 after purchasing an additional 23,411 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company's stock valued at $17,565,000 after purchasing an additional 43,086 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company's stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares of the company's stock, 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 hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at $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. Insiders have sold 66,555 shares of company stock valued at $4,657,676 in the last ninety days. Company insiders own 0.26% of the company's stock.

General Mills Trading Up 0.9 %

Shares of GIS traded up $0.58 during mid-day trading on Friday, reaching $65.52. The company's stock had a trading volume of 3,006,051 shares, compared to its average volume of 3,361,745. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The stock has a market cap of $36.37 billion, a PE ratio of 15.60, a P/E/G ratio of 3.39 and a beta of 0.11. The company's fifty day moving average price is $71.60 and its two-hundred day moving average price is $69.09. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.66%. General Mills's payout ratio is 57.14%.

Analyst Ratings Changes

GIS has been the subject of a number of recent research reports. Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. TD Cowen increased their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a "hold" rating in a research report on Friday, September 20th. Piper Sandler boosted their price target 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $73.00.

General Mills 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.