Farmers National Bank Has $548,000 Stake in General Mills, Inc. (GIS)
Farmers National Bank lowered its stake in General Mills, Inc. (NYSE:GIS) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 8,582 shares of the company’s stock after selling 135 shares during the period. Farmers National Bank’s holdings in General Mills were worth $548,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Lodestar Investment Counsel LLC IL raised its stake in shares of General Mills by 16.2% in the first quarter. Lodestar Investment Counsel LLC IL now owns 6,138 shares of the company’s stock valued at $362,000 after buying an additional 857 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of General Mills by 4.7% in the first quarter. Beese Fulmer Investment Management Inc. now owns 57,059 shares of the company’s stock valued at $3,367,000 after buying an additional 2,567 shares during the last quarter. Berkshire Asset Management LLC PA raised its stake in shares of General Mills by 2.2% in the first quarter. Berkshire Asset Management LLC PA now owns 340,445 shares of the company’s stock valued at $20,090,000 after buying an additional 7,292 shares during the last quarter. Piershale Financial Group Inc. raised its stake in shares of General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock valued at $261,000 after buying an additional 34 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in shares of General Mills during the first quarter valued at approximately $428,000. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) traded up 1.18% during trading on Monday, reaching $57.26. The company had a trading volume of 762,619 shares. General Mills, Inc. has a 12 month low of $53.24 and a 12 month high of $71.96. The firm’s 50 day moving average price is $55.00 and its 200 day moving average price is $57.96. The firm has a market capitalization of $33.04 billion, a P/E ratio of 20.67 and a beta of 0.61.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities analysts predict that General Mills, Inc. will post $3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio is 70.76%.
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Several analysts have commented on GIS shares. Royal Bank Of Canada set a $65.00 price objective on General Mills and gave the company a “hold” rating in a report on Monday, April 24th. Vetr raised General Mills from a “hold” rating to a “buy” rating and set a $58.98 price objective on the stock in a report on Monday, May 1st. Credit Suisse Group reissued a “neutral” rating and issued a $56.00 price objective (down from $65.00) on shares of General Mills in a report on Friday, May 19th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, Piper Jaffray Companies started coverage on General Mills in a report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 price objective on the stock. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus price target of $59.93.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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