Whittier Trust Co. Lowers Position in General Mills, Inc. (NYSE:GIS)

Whittier Trust Co. reduced its stake in General Mills, Inc. (NYSE:GIS) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,709 shares of the company’s stock after selling 858 shares during the period. Whittier Trust Co.’s holdings in General Mills were worth $1,002,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills in the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Mills in the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $32,000. Finally, Bank of Jackson Hole Trust acquired a new position in General Mills during the fourth quarter worth $34,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GIS shares. Bank of America dropped their price objective on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen dropped their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Piper Sandler dropped their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Barclays reduced their target price on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $66.53.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

General Mills Stock Up 0.8 %

General Mills stock opened at $58.78 on Friday. The stock has a market cap of $32.40 billion, a PE ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The stock’s fifty day moving average is $60.00 and its two-hundred day moving average is $65.23. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

General Mills Company 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.