Rockland Trust Co. Acquires 3,784 Shares of General Mills, Inc. (NYSE:GIS)

Rockland Trust Co. boosted its stake in General Mills, Inc. (NYSE:GIS) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 165,412 shares of the company’s stock after buying an additional 3,784 shares during the period. Rockland Trust Co.’s holdings in General Mills were worth $10,548,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in shares of General Mills in the third quarter valued at about $27,000. Planning Capital Management Corp raised its holdings in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after purchasing an additional 193 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of General Mills in the 2nd quarter worth approximately $42,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Mills in the 3rd quarter valued at $44,000. Finally, Rise Advisors LLC raised its stake in General Mills by 46.7% during the third quarter. Rise Advisors LLC now owns 606 shares of the company’s stock worth $45,000 after buying an additional 193 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

GIS opened at $58.82 on Wednesday. General Mills, Inc. has a 1 year low of $58.27 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 3.47 and a beta of 0.11. The firm’s fifty day moving average price is $64.15 and its two-hundred day moving average price is $67.64.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 4.08%. General Mills’s dividend payout ratio is currently 52.17%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,541 shares of company stock worth $3,321,170 in the last quarter. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of research analyst reports. TD Cowen cut their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Barclays lowered their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.31.

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.