Glenmede Trust Co. NA Cuts Stock Holdings in General Mills, Inc. $GIS

Glenmede Trust Co. NA reduced its position in General Mills, Inc. (NYSE:GIS) by 77.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,775 shares of the company’s stock after selling 222,280 shares during the period. Glenmede Trust Co. NA’s holdings in General Mills were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in General Mills in the 4th quarter worth $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of General Mills in the fourth quarter valued at about $26,000. Brown Shipley& Co Ltd purchased a new stake in shares of General Mills during the first quarter worth about $26,000. Bruce G. Allen Investments LLC increased its stake in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Finally, Main Street Group LTD acquired a new position in shares of General Mills during the 1st quarter worth about $27,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their target price on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Wells Fargo & Company raised their target price on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Finally, UBS Group set a $33.00 price target on General Mills in a research note on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $39.16.

General Mills Stock Up 0.6%

GIS stock opened at $36.23 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average of $35.41 and a two-hundred day moving average of $38.32. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The company has a market cap of $19.34 billion, a price-to-earnings ratio of -201.26 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, July 10th. General Mills’s payout ratio is currently -1,355.56%.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by insiders.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.