Morton Community Bank Purchases 875 Shares of General Mills, Inc. (NYSE:GIS)

Morton Community Bank boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,784 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Morton Community Bank’s holdings in General Mills were worth $2,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. bought a new stake in General Mills during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills during the fourth quarter worth $31,000. Planning Capital Management Corp raised its position in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of General Mills in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Mills in the fourth quarter valued at about $38,000. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GIS. Mizuho dropped their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler dropped their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.06.

General Mills Trading Up 3.7 %

Shares of General Mills stock opened at $64.53 on Monday. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $55.15 and a 12-month high of $75.90. The firm’s 50-day moving average price is $60.33 and its two-hundred day moving average price is $65.97.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.72%. General Mills’s payout ratio is 52.17%.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

About General Mills

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.