First Citizens Bank & Trust Co. Has $433,000 Stock Holdings in General Mills, Inc. (NYSE:GIS)

First Citizens Bank & Trust Co. grew its stake in General Mills, Inc. (NYSE:GIS) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,866 shares of the company’s stock after buying an additional 625 shares during the period. First Citizens Bank & Trust Co.’s holdings in General Mills were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after buying an additional 8,444,312 shares during the period. Capital Research Global Investors increased its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares during the period. Legal & General Group Plc grew its stake in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares during the period. Dimensional Fund Advisors LP grew its stake in General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares during the period. Finally, Nordea Investment Management AB grew its stake in General Mills by 7.4% during the first quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock worth $376,459,000 after purchasing an additional 369,628 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 1.1 %

GIS stock opened at $69.93 on Monday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $72.36 and its 200-day moving average is $69.21. The firm has a market capitalization of $39.03 billion, a PE ratio of 16.23, a P/E/G ratio of 3.71 and a beta of 0.10.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

Insider Activity at General Mills

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

Analyst Ratings Changes

Several equities research analysts recently commented on GIS shares. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 target price for the company. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, Barclays raised their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $73.00.

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.