Reliance Trust Co. of Delaware grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,547 shares of the company’s stock after buying an additional 593 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in General Mills were worth $339,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of General Mills by 2.6% during the fourth quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock worth $1,593,046,000 after acquiring an additional 1,049,722 shares in the last quarter. American International Group Inc. increased its position in shares of General Mills by 4.7% during the fourth quarter. American International Group Inc. now owns 9,682,820 shares of the company’s stock worth $377,049,000 after acquiring an additional 436,177 shares in the last quarter. Geode Capital Management LLC grew its position in General Mills by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after purchasing an additional 473,831 shares in the last quarter. Morgan Stanley grew its position in General Mills by 6.6% in the 3rd quarter. Morgan Stanley now owns 5,688,684 shares of the company’s stock worth $244,156,000 after purchasing an additional 354,443 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in General Mills by 6.8% in the 3rd quarter. Federated Investors Inc. PA now owns 5,556,622 shares of the company’s stock worth $238,491,000 after purchasing an additional 353,392 shares in the last quarter. 69.22% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GIS stock traded up $0.32 on Wednesday, hitting $52.71. 2,823,299 shares of the company’s stock traded hands, compared to its average volume of 4,427,430. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. General Mills, Inc. has a one year low of $36.42 and a one year high of $53.00. The firm has a market cap of $31.37 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.38 and a beta of 0.77.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. As a group, analysts forecast that General Mills, Inc. will post 3.14 EPS for the current year.
A number of brokerages have issued reports on GIS. Bank of America reaffirmed a “neutral” rating and issued a $49.00 price objective on shares of General Mills in a research report on Friday, May 17th. Credit Suisse Group increased their target price on shares of General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Citigroup reissued a “top pick” rating and set a $60.00 target price (up from $54.00) on shares of General Mills in a research report on Thursday, March 21st. Guggenheim restated a “buy” rating on shares of General Mills in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.17.
In other news, insider John R. Church sold 4,719 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the sale, the insider now directly owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donal L. Mulligan sold 120,722 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the completion of the sale, the chief financial officer now directly owns 252,326 shares of the company’s stock, valued at $11,985,485. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,222 shares of company stock valued at $21,764,784. Corporate insiders own 0.59% of the company’s stock.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
Read More: P/E Growth (PEG)
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