Nicholas Hoffman & Company LLC. Raises Stake in General Mills, Inc. (NYSE:GIS)

Nicholas Hoffman & Company LLC. boosted its holdings in General Mills, Inc. (NYSE:GIS) by 8.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,344 shares of the company’s stock after purchasing an additional 478 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in General Mills were worth $444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in General Mills during the 4th quarter valued at about $377,205,000. Massachusetts Financial Services Co. MA grew its holdings in shares of General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after buying an additional 1,778,345 shares during the last quarter. Nordea Investment Management AB increased its position in shares of General Mills by 48.7% during the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after acquiring an additional 1,654,111 shares in the last quarter. American Century Companies Inc. raised its holdings in General Mills by 257.7% in the 3rd quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after acquiring an additional 765,070 shares during the last quarter. Finally, LSV Asset Management raised its holdings in General Mills by 165.6% in the 4th quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after acquiring an additional 654,550 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. HSBC raised their price target on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a report on Thursday, March 21st. Citigroup initiated coverage on shares of General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 target price on the stock. Finally, Bank of America raised their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.18.

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the sale, the insider now owns 93,381 shares in the company, valued at approximately $6,462,899.01. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

General Mills Stock Up 0.3 %

Shares of GIS stock traded up $0.23 during trading hours on Tuesday, hitting $70.46. 3,066,438 shares of the company were exchanged, compared to its average volume of 4,243,899. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The business’s 50-day simple moving average is $67.87 and its two-hundred day simple moving average is $65.73. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The stock has a market capitalization of $40.01 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 2.44 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the business posted $0.97 EPS. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.