Parsons Capital Management Inc. RI raised its position in shares of General Mills, Inc. (NYSE:GIS) by 1.8% in the 1st quarter, Holdings Channel reports. The firm owned 33,369 shares of the company’s stock after acquiring an additional 574 shares during the period. Parsons Capital Management Inc. RI’s holdings in General Mills were worth $2,046,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GIS. Norges Bank acquired a new position in General Mills during the fourth quarter valued at approximately $385,851,000. Federated Hermes Inc. boosted its position in shares of General Mills by 183.8% during the 4th quarter. Federated Hermes Inc. now owns 4,137,872 shares of the company’s stock worth $243,307,000 after purchasing an additional 2,679,622 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of General Mills by 14,091.2% during the 4th quarter. Cooke & Bieler LP now owns 943,717 shares of the company’s stock worth $55,490,000 after purchasing an additional 937,067 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of General Mills by 2,173.5% during the 4th quarter. Voloridge Investment Management LLC now owns 894,380 shares of the company’s stock worth $52,590,000 after purchasing an additional 855,040 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of General Mills by 125.3% during the 4th quarter. State of Wisconsin Investment Board now owns 1,274,201 shares of the company’s stock worth $74,923,000 after purchasing an additional 708,687 shares in the last quarter. Institutional investors and hedge funds own 73.17% of the company’s stock.
A number of equities analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $62.00 to $55.00 in a research report on Tuesday, January 19th. Credit Suisse Group cut their price objective on shares of General Mills from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, March 29th. Morgan Stanley cut their price objective on shares of General Mills from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 14th. Finally, Jefferies Financial Group lowered their target price on shares of General Mills from $64.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, January 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $63.27.
In other news, insider John R. Church sold 25,812 shares of the stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $60.81, for a total transaction of $1,569,627.72. Following the completion of the transaction, the insider now directly owns 75,728 shares of the company’s stock, valued at approximately $4,605,019.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Kerry Clark sold 11,398 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $61.41, for a total transaction of $699,951.18. Following the transaction, the director now directly owns 65,199 shares of the company’s stock, valued at $4,003,870.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,208 shares of company stock valued at $4,436,830. Company insiders own 0.51% of the company’s stock.
NYSE:GIS opened at $61.60 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a market cap of $37.57 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.98 and a beta of 0.57. General Mills, Inc. has a 52 week low of $53.96 and a 52 week high of $66.14. The firm has a 50-day moving average price of $60.81 and a two-hundred day moving average price of $59.18.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Tuesday, March 23rd. The company reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.45 billion. General Mills had a net margin of 13.16% and a return on equity of 28.60%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.73 earnings per share for the current year.
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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
See Also: Are Wall Street analysts’ stock ratings worth following?
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.