First County Bank CT Sells 283 Shares of General Mills, Inc. (NYSE:GIS)

First County Bank CT decreased its position in General Mills, Inc. (NYSE:GIS) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,138 shares of the company’s stock after selling 283 shares during the quarter. First County Bank CT’s holdings in General Mills were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GIS. Legal & General Group Plc increased its holdings in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock valued at $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in General Mills by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after buying an additional 148,235 shares in the last quarter. American Century Companies Inc. boosted its position in General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in General Mills by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares during the last quarter. Finally, abrdn plc boosted its position in General Mills by 3.9% in the third quarter. abrdn plc now owns 2,492,918 shares of the company’s stock worth $183,778,000 after purchasing an additional 92,931 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on 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 owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,555 shares of company stock worth $4,721,336 in the last quarter. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GIS has been the topic of several research reports. The Goldman Sachs Group assumed coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One 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 stock has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Stock Performance

NYSE GIS opened at $65.00 on Friday. The company has a market cap of $36.09 billion, a P/E ratio of 15.48, a P/E/G ratio of 3.26 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The business’s 50 day moving average price is $69.64 and its 200-day moving average price is $68.63. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Sell-side analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, January 10th. General Mills’s payout ratio is currently 57.14%.

About General Mills

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.