Thomasville National Bank cut its stake in General Mills, Inc. (NYSE:GIS) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,307 shares of the company’s stock after selling 14,762 shares during the quarter. General Mills makes up approximately 1.0% of Thomasville National Bank’s portfolio, making the stock its 27th largest holding. Thomasville National Bank’s holdings in General Mills were worth $4,918,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. increased its holdings in shares of General Mills by 80.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock worth $50,000 after buying an additional 576 shares during the last quarter. G&S Capital LLC increased its holdings in shares of General Mills by 27.8% during the 4th quarter. G&S Capital LLC now owns 1,403 shares of the company’s stock worth $55,000 after buying an additional 305 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of General Mills by 25.4% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,387 shares of the company’s stock worth $60,000 after buying an additional 281 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of General Mills by 28.3% during the 4th quarter. Moody National Bank Trust Division now owns 2,214 shares of the company’s stock worth $86,000 after buying an additional 489 shares during the last quarter. Finally, Highwater Wealth Management LLC acquired a new stake in General Mills in the 4th quarter valued at approximately $87,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
GIS traded up $0.09 on Friday, hitting $43.95. 3,361,972 shares of the company were exchanged, compared to its average volume of 4,632,576. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $56.90. The firm has a market capitalization of $26.23 billion, a P/E ratio of 14.13, a PEG ratio of 1.97 and a beta of 0.76. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 1.75.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.51 billion. General Mills had a net margin of 12.48% and a return on equity of 29.44%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Analysts predict that General Mills, Inc. will post 3.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.
Several analysts recently weighed in on GIS shares. Piper Jaffray Companies reiterated an “average” rating and issued a $47.00 target price on shares of General Mills in a report on Thursday, December 20th. Wells Fargo & Co set a $46.00 target price on shares of General Mills and gave the company a “buy” rating in a report on Thursday, December 20th. Guggenheim started coverage on shares of General Mills in a report on Tuesday, January 22nd. They issued a “buy” rating and a $49.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of General Mills in a report on Tuesday, December 18th. Finally, UBS Group restated a “buy” rating and issued a $40.00 price target on shares of General Mills in a research note on Friday, December 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.45.
In other General Mills news, Director R Kerry Clark sold 7,849 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $44.26, for a total transaction of $347,396.74. Following the transaction, the director now owns 30,215 shares of the company’s stock, valued at $1,337,315.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.
General Mills Company 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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