NBT Bank N.A. Acquires 32,965 Shares of General Mills, Inc. $GIS

NBT Bank N.A. acquired a new position in General Mills, Inc. (NYSE:GIS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,965 shares of the company’s stock, valued at approximately $1,060,000.

A number of other large investors have also recently bought and sold shares of GIS. Brown Shipley& Co Ltd acquired a new position in General Mills during the first quarter worth $26,000. Silvant Capital Management LLC acquired a new stake in shares of General Mills in the second quarter worth about $26,000. Main Street Group LTD bought a new stake in shares of General Mills during the 1st quarter worth about $27,000. Elevation Wealth Partners LLC bought a new stake in shares of General Mills during the 2nd quarter worth about $27,000. Finally, CoreCap Advisors LLC boosted its stake in shares of General Mills by 92.9% during the 2nd quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock worth $27,000 after acquiring an additional 379 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Trending Headlines about General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Expansion into high-protein snacking: General Mills has launched EPIC Sticks, a four-flavor meat-snack line made with grass-fed beef or free-range chicken. Its gluten-free, dairy-free and Paleo-friendly positioning gives the company exposure to growing demand for convenient, protein-rich snacks and could broaden EPIC’s shelf presence. How EPIC Sticks Launch At General Mills Has Changed Its Investment Story
• Positive Sentiment: Recent earnings modestly exceeded expectations: General Mills previously reported adjusted earnings of $0.75 per share versus the $0.72 consensus estimate, while revenue of $4.39 billion also topped forecasts. The stock was reported to be about 1% higher since that earnings release, although analysts are watching whether estimates support continued momentum. General Mills Up 1% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Valuation debate: Commentary suggests the stock’s roughly 38% three-year decline may have reset expectations, but investors still need evidence that General Mills can stabilize its sales base and restore growth. General Mills Stock Seems About Right On Its 38% Slide
• Negative Sentiment: Fundamental and competitive concerns remain: General Mills faces established food giants and agile snack competitors, including Chomps and PepsiCo’s Good Warrior. Revenue in the latest reported quarter declined 2.8% year over year, and commentary questioning the company’s fundamentals could limit investor enthusiasm despite new product launches. 3 Mid-Cap Stocks With Questionable Fundamentals

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GIS shares. Evercore set a $38.00 price objective on General Mills in a report on Monday, September 14th. UBS Group restated a “sell” rating on shares of General Mills in a report on Wednesday, September 16th. Piper Sandler reaffirmed an “overweight” rating on shares of General Mills in a research report on Thursday, September 24th. Barclays increased their price target on General Mills from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. Finally, Wells Fargo & Company lifted their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $36.59.

General Mills Trading Down 2.3%

General Mills stock opened at $34.39 on Friday. General Mills, Inc. has a 52 week low of $31.17 and a 52 week high of $49.59. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.39 and a current ratio of 0.70. The firm has a market capitalization of $18.39 billion, a PE ratio of -20.71, a PEG ratio of 1.91 and a beta of 0.03. The business’s 50-day simple moving average is $35.93 and its 200-day simple moving average is $35.55.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.35 billion. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.08 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.61 per share. The ex-dividend date is Tuesday, October 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.1%. General Mills’s payout ratio is -146.99%.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.