Ledyard National Bank Takes $260,000 Position in General Mills, Inc. (NYSE:GIS)

Ledyard National Bank acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,987 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds also recently made changes to their positions in GIS. Operose Advisors LLC raised its holdings in General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after acquiring an additional 274 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the fourth quarter valued at $28,000. Authentikos Wealth Advisory LLC acquired a new stake in General Mills in the third quarter valued at $31,000. HHM Wealth Advisors LLC acquired a new stake in General Mills in the third quarter valued at $32,000. Finally, Fortitude Family Office LLC acquired a new stake in General Mills in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS traded up $0.08 on Tuesday, reaching $70.31. The company had a trading volume of 900,917 shares, compared to its average volume of 4,216,413. The company has a fifty day moving average of $67.78 and a 200-day moving average of $65.68. The company has a market capitalization of $39.93 billion, a P/E ratio of 16.11, a PEG ratio of 2.44 and a beta of 0.15. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the company earned $0.97 EPS. General Mills’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $77.00 price target on shares of General Mills in a report on Monday, April 22nd. Morgan Stanley boosted their target price on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $72.00 target price on shares of General Mills in a research note on Thursday, March 21st. Finally, TD Cowen boosted their target price on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.18.

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.