Trustmark National Bank Trust Department Boosts Stake in General Mills, Inc. (NYSE:GIS)

Trustmark National Bank Trust Department boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,674 shares of the company’s stock after buying an additional 349 shares during the quarter. Trustmark National Bank Trust Department’s holdings in General Mills were worth $2,339,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GIS. Bessemer Group Inc. grew its position in shares of General Mills by 65.0% during the first quarter. Bessemer Group Inc. now owns 111,741 shares of the company’s stock worth $7,819,000 after purchasing an additional 44,038 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in General Mills by 45.8% during the first quarter. Lake Street Advisors Group LLC now owns 5,461 shares of the company’s stock valued at $382,000 after acquiring an additional 1,715 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in General Mills by 71.3% in the 1st quarter. CreativeOne Wealth LLC now owns 10,604 shares of the company’s stock valued at $742,000 after acquiring an additional 4,413 shares during the last quarter. Capital International Inc. CA lifted its stake in General Mills by 7.1% in the 1st quarter. Capital International Inc. CA now owns 90,089 shares of the company’s stock worth $6,304,000 after purchasing an additional 5,974 shares in the last quarter. Finally, Capital International Ltd. CA grew its position in shares of General Mills by 28.9% during the first quarter. Capital International Ltd. CA now owns 42,590 shares of the company’s stock valued at $2,980,000 after purchasing an additional 9,553 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GIS shares. Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. The Goldman Sachs Group started coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Bank of America increased their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Wells Fargo & Company dropped their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Activity at General Mills

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock valued at $4,721,336 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

General Mills Price Performance

Shares of GIS opened at $63.80 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a 50 day moving average price of $70.00 and a 200-day moving average price of $68.70. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The stock has a market capitalization of $35.42 billion, a PE ratio of 15.19, a PEG ratio of 3.26 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.76%. General Mills’s dividend payout ratio (DPR) is 57.14%.

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 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.