Indiana Trust & Investment Management CO Decreases Position in General Mills, Inc. (NYSE:GIS)

Indiana Trust & Investment Management CO lessened its position in General Mills, Inc. (NYSE:GIS) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,797 shares of the company’s stock after selling 805 shares during the period. Indiana Trust & Investment Management CO’s holdings in General Mills were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GIS. FMR LLC raised its stake in shares of General Mills by 5.5% in the third quarter. FMR LLC now owns 1,612,372 shares of the company’s stock worth $103,176,000 after purchasing an additional 84,520 shares during the last quarter. Operose Advisors LLC raised its position in General Mills by 214.1% in the 3rd quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares during the last quarter. Trexquant Investment LP purchased a new position in General Mills in the 3rd quarter worth about $5,275,000. Treasurer of the State of North Carolina boosted its holdings in shares of General Mills by 5.2% during the 3rd quarter. Treasurer of the State of North Carolina now owns 371,053 shares of the company’s stock valued at $23,744,000 after acquiring an additional 18,435 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of General Mills by 142.6% during the 3rd quarter. Bank of Nova Scotia now owns 142,149 shares of the company’s stock valued at $9,096,000 after acquiring an additional 83,565 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS traded down $0.45 during trading hours on Friday, reaching $63.26. 13,272,670 shares of the stock traded hands, compared to its average volume of 4,226,583. The company has a market cap of $35.93 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.12. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $68.76 and its two-hundred day moving average price is $66.79. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $77.63.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. On average, analysts anticipate that General Mills, Inc. will post 4.54 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.79%. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. General Mills’s dividend payout ratio is presently 54.76%.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. Evercore ISI dropped their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday. TD Cowen increased their target price on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Finally, Morgan Stanley boosted their price target on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.44.

Insider Buying and Selling at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

General Mills Company Profile

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.