Andra AP fonden acquired a new stake in General Mills, Inc. (NYSE:GIS) during the first quarter, HoldingsChannel reports. The fund acquired 129,800 shares of the company’s stock, valued at approximately $6,717,000.
Other large investors have also recently bought and sold shares of the company. Acima Private Wealth LLC bought a new position in General Mills during the fourth quarter worth $29,000. Legacy Advisors LLC bought a new position in General Mills during the first quarter worth $31,000. Certified Advisory Corp boosted its stake in General Mills by 100.9% during the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after acquiring an additional 323 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in General Mills during the fourth quarter worth $37,000. Finally, Penserra Capital Management LLC bought a new position in General Mills during the first quarter worth $40,000. 69.80% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of General Mills in a research note on Tuesday. They set an “in-line” rating and a $56.00 target price on the stock. Wells Fargo & Co increased their target price on shares of General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research note on Friday, March 22nd. Standpoint Research lowered shares of General Mills from a “buy” rating to a “hold” rating in a research note on Thursday, February 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 note on Thursday, March 21st. Finally, Bank of America reissued a “neutral” rating and set a $49.00 target price on shares of General Mills in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $50.16.
GIS opened at $52.61 on Thursday. 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 1-year low of $36.42 and a 1-year high of $53.66. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.75.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 3.15 earnings per share for the current year.
In other news, insider Shawn P. Ogrady sold 118,152 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total value of $5,730,372.00. Following the completion of the sale, the insider now owns 187,891 shares in the company, valued at $9,112,713.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donal L. Mulligan sold 126,337 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 378,663 shares of the company’s stock, valued at approximately $18,933,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,500 shares of company stock valued at $16,030,489. 0.59% of the stock is currently owned by corporate 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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