General Mills, Inc. (NYSE:GIS) Shares Sold by Ledyard National Bank

Ledyard National Bank decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,474 shares of the company’s stock after selling 377 shares during the period. Ledyard National Bank’s holdings in General Mills were worth $257,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. North Star Investment Management Corp. increased its stake in General Mills by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after buying an additional 145 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares in the last quarter. Park Place Capital Corp boosted its position in shares of General Mills by 40.6% during the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares in the last quarter. Secure Asset Management LLC boosted its position in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares in the last quarter. Finally, LCM Capital Management Inc boosted its position in shares of General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GIS shares. Citigroup raised their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Evercore ISI reduced their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. TD Cowen raised their target price on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Price Performance

Shares of GIS opened at $69.09 on Wednesday. The firm has a market cap of $38.56 billion, a PE ratio of 16.03, a PEG ratio of 3.71 and a beta of 0.10. The firm’s 50 day moving average price is $72.37 and its 200 day moving average price is $69.20. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is 55.68%.

Insider Activity

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,055 shares of company stock valued at $1,467,311 over the last 90 days. 0.24% of the stock is currently owned by company insiders.

General Mills 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.