Fiduciary Group LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,004 shares of the company’s stock after selling 590 shares during the quarter. Fiduciary Group LLC’s holdings in General Mills were worth $528,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of GIS. Capital World Investors boosted its holdings in shares of General Mills by 66.8% during the fourth quarter. Capital World Investors now owns 15,443,097 shares of the company’s stock worth $827,132,000 after purchasing an additional 6,182,293 shares during the period. Norges Bank bought a new position in shares of General Mills in the fourth quarter valued at approximately $327,257,000. BlackRock Inc. raised its position in shares of General Mills by 4.3% in the first quarter. BlackRock Inc. now owns 48,577,320 shares of the company’s stock valued at $2,563,425,000 after purchasing an additional 2,017,953 shares during the period. Prudential PLC raised its position in shares of General Mills by 4,472.1% in the first quarter. Prudential PLC now owns 1,653,365 shares of the company’s stock valued at $87,248,000 after purchasing an additional 1,617,203 shares during the period. Finally, Stifel Financial Corp raised its position in shares of General Mills by 46.8% in the fourth quarter. Stifel Financial Corp now owns 3,365,591 shares of the company’s stock valued at $179,998,000 after purchasing an additional 1,072,221 shares during the period. Institutional investors and hedge funds own 70.30% of the company’s stock.
A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of General Mills from $67.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on shares of General Mills from $57.00 to $61.00 in a research report on Thursday, March 19th. Jefferies Financial Group boosted their target price on shares of General Mills from $56.00 to $61.00 and gave the stock a “positive” rating in a research report on Thursday. ValuEngine raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Deutsche Bank boosted their target price on shares of General Mills from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $59.74.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 18th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. General Mills had a net margin of 12.68% and a return on equity of 26.40%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.58 EPS for the current year.
In other news, insider Bethany C. Quam sold 13,729 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $54.20, for a total value of $744,111.80. Following the sale, the insider now owns 51,749 shares in the company, valued at approximately $2,804,795.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn P. Ogrady sold 6,187 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $59.95, for a total transaction of $370,910.65. Following the transaction, the insider now owns 134,820 shares in the company, valued at approximately $8,082,459. The disclosure for this sale can be found here. Insiders sold a total of 137,668 shares of company stock worth $8,078,504 in the last 90 days. 0.52% of the stock is owned by corporate insiders.
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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