Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its stake in General Mills, Inc. (NYSE:GIS) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,965 shares of the company’s stock after selling 700 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in General Mills were worth $494,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of GIS. HBW Advisory Services LLC acquired a new position in General Mills during the 3rd quarter valued at about $1,785,000. Intellectus Partners LLC bought a new position in General Mills in the third quarter valued at $624,000. Truvestments Capital LLC increased its stake in General Mills by 16.4% in the third quarter. Truvestments Capital LLC now owns 25,294 shares of the company’s stock valued at $1,394,000 after acquiring an additional 3,558 shares during the last quarter. Pacer Advisors Inc. increased its stake in General Mills by 9.5% in the third quarter. Pacer Advisors Inc. now owns 104,300 shares of the company’s stock valued at $5,749,000 after acquiring an additional 9,023 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC bought a new position in General Mills in the third quarter valued at $210,000. Hedge funds and other institutional investors own 68.66% of the company’s stock.
NYSE GIS traded down $0.54 during trading on Friday, hitting $54.07. 48,841 shares of the company’s stock traded hands, compared to its average volume of 3,569,577. The stock has a fifty day moving average of $54.22 and a two-hundred day moving average of $52.84. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.62 and a quick ratio of 0.37. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40. The firm has a market cap of $32.73 billion, a P/E ratio of 16.82, a PEG ratio of 2.30 and a beta of 0.73.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, analysts expect that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.62%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.
A number of research firms recently commented on GIS. Guggenheim increased their target price on General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Jaffray Companies increased their target price on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their target price on General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Stifel Nicolaus increased their target price on General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Finally, Barclays reissued a “hold” rating and issued a $55.00 target price on shares of General Mills in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus target price of $53.64.
In related news, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the completion of the transaction, the insider now owns 35,487 shares in the company, valued at approximately $1,928,008.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.
General Mills 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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