SG Americas Securities LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 25.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,373 shares of the company’s stock after selling 37,872 shares during the period. SG Americas Securities LLC’s holdings in General Mills were worth $5,660,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Actinver Wealth Management Inc. bought a new position in shares of General Mills in the 4th quarter worth $991,000. Two Sigma Advisers LP raised its stake in General Mills by 24.1% during the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after buying an additional 174,157 shares during the period. Norges Bank acquired a new stake in General Mills during the 4th quarter worth $208,406,000. DNB Asset Management AS raised its stake in General Mills by 27.4% during the 1st quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock worth $5,719,000 after buying an additional 23,762 shares during the period. Finally, Stifel Financial Corp raised its stake in General Mills by 5.5% during the 4th quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock worth $72,721,000 after buying an additional 96,997 shares during the period. 69.10% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Bank of America reissued a “neutral” rating and issued a $49.00 price target on shares of General Mills in a research note on Friday, May 17th. Credit Suisse Group lifted their price target on General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Citigroup restated a “top pick” rating and issued a $60.00 price objective (up previously from $54.00) on shares of General Mills in a report on Thursday, March 21st. Guggenheim restated a “buy” rating on shares of General Mills in a report on Tuesday, February 26th. Finally, ValuEngine upgraded General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.17.
Shares of NYSE:GIS traded down $0.62 during trading on Friday, reaching $52.81. 2,600,277 shares of the stock were exchanged, compared to its average volume of 4,437,712. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $53.66. The stock has a market cap of $31.84 billion, a PE ratio of 16.98, a P/E/G ratio of 2.38 and a beta of 0.77. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that General Mills, Inc. will post 3.14 earnings per share for the current year.
In other General Mills news, insider Shawn P. Ogrady sold 118,152 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the completion of the transaction, the insider now directly owns 187,891 shares in the company, valued at $9,112,713.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donal L. Mulligan sold 126,337 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $50.00, for a total transaction of $6,316,850.00. Following the transaction, the chief financial officer now owns 378,663 shares of the company’s stock, valued at $18,933,150. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by company insiders.
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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.
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