Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,466 shares of the company’s stock after acquiring an additional 640 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in General Mills were worth $1,493,000 at the end of the most recent quarter.
A number of other hedge funds and institutional investors also recently bought and sold shares of GIS. Clarius Group LLC lifted its holdings in shares of General Mills by 1.6% in the 1st quarter. Evoke Wealth LLC boosted its holdings in shares of General Mills by 2.0% during the first quarter. Colonial Trust Advisors grew its position in shares of General Mills by 1.6% during the first quarter. IHT Wealth Management LLC increased its holdings in shares of General Mills by 2.2% in the 1st quarter. Finally, Wayfinding Financial LLC lifted its position in General Mills by 4.3% in the 1st quarter. 75.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst reports on GIS have been mixed. Evercore ISI dropped their price target on shares of General Mills from $85.00 to $80.00 in a research note. Argus upgraded General Mills from a “hold” rating to a “buy” rating and set a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $82.00 to $77.00 and set a “hold” rating on the stock. BNP Paribas downgraded shares of General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock. Two analysts have rated the stock as sell, twelve as hold, and five as buy. The stock currently has an average rating of “Hold” and an average price target of $76.20.
General Mills shares traded down $0.09 during trading hours on Friday, reaching $65.39. The company has a market capitalization of $38.00 billion and a beta of 0.24. General Mills last announced its earnings results on Wednesday, September 20th, beating the consensus estimate. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.88 billion. The firm also recently increased its quarterly dividend. General Mills, Inc. manufactures and markets branded consumer foods worldwide.
