Coastline Trust Co Trims Stock Position in General Mills, Inc. (NYSE:GIS)

Coastline Trust Co lessened its position in shares of General Mills, Inc. (NYSE:GISFree Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,000 shares of the company’s stock after selling 190 shares during the quarter. Coastline Trust Co’s holdings in General Mills were worth $1,759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GIS. Moneta Group Investment Advisors LLC raised its position in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock valued at $928,723,000 after buying an additional 11,067,051 shares during the period. Norges Bank purchased a new stake in General Mills in the fourth quarter valued at approximately $382,081,000. Price T Rowe Associates Inc. MD raised its position in General Mills by 101.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock valued at $592,673,000 after purchasing an additional 3,496,741 shares during the period. Nordea Investment Management AB raised its position in General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after purchasing an additional 1,654,111 shares during the period. Finally, Morgan Stanley raised its position in General Mills by 14.6% in the fourth quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after purchasing an additional 1,051,169 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.6 %

NYSE:GIS traded up $0.44 during trading hours on Tuesday, hitting $70.57. The company’s stock had a trading volume of 3,796,990 shares, compared to its average volume of 4,326,943. The stock has a market capitalization of $40.08 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.15. The stock has a fifty day moving average of $65.55 and a 200-day moving average of $64.91. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89.

General Mills (NYSE:GISGet Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. General Mills’s payout ratio is currently 54.13%.

Insider Activity at General Mills

In related news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The disclosure for this sale can be found here. Insiders sold a total of 77,782 shares of company stock worth $5,057,820 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research analyst reports. Evercore ISI cut their target price on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research report on Monday, December 11th. Morgan Stanley boosted their target price on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Piper Sandler cut their target price on General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, December 15th. Bank of America boosted their target price on General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company upped their price objective on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.18.

Check Out Our Latest Analysis on General Mills

About General Mills

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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