Sterling Investment Advisors Ltd. boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 133.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,054 shares of the company’s stock after purchasing an additional 23,450 shares during the quarter. General Mills comprises 1.1% of Sterling Investment Advisors Ltd.’s holdings, making the stock its 26th largest holding. Sterling Investment Advisors Ltd.’s holdings in General Mills were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Acima Private Wealth LLC bought a new stake in General Mills during the fourth quarter valued at about $29,000. We Are One Seven LLC bought a new stake in General Mills during the fourth quarter valued at about $30,000. Legacy Advisors LLC bought a new stake in General Mills during the first quarter valued at about $31,000. BDO Wealth Advisors LLC bought a new stake in General Mills during the fourth quarter valued at about $37,000. Finally, Sageworth Trust Co bought a new stake in General Mills during the first quarter valued at about $49,000. 69.87% of the stock is currently owned by institutional investors.
Shares of NYSE:GIS traded down $2.84 during trading on Wednesday, hitting $48.25. The stock had a trading volume of 10,484,491 shares, compared to its average volume of 3,353,810. 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 $31.62 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.40 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 announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
GIS has been the topic of a number of recent research reports. Deutsche Bank raised General Mills from a “hold” rating to a “buy” rating and raised their price objective for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. TheStreet upgraded General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Wells Fargo & Co increased their price target on General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price target on shares of General Mills in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus price target of $49.77.
In other news, 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 value of $5,734,295.00. Following the completion of the transaction, the chief financial officer now directly owns 252,326 shares in the company, valued at $11,985,485. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donal L. Mulligan sold 126,337 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $50.00, for a total value of $6,316,850.00. Following the completion of 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 90 days, insiders sold 444,222 shares of company stock valued at $21,764,784. Company insiders own 0.59% of the company’s stock.
General Mills Profile
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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