Marco Investment Management LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.5% in the first quarter, Holdings Channel reports. The fund owned 26,120 shares of the company’s stock after buying an additional 633 shares during the quarter. Marco Investment Management LLC’s holdings in General Mills were worth $1,352,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Princeton Capital Management LLC increased its position in General Mills by 47.6% during the 1st quarter. Princeton Capital Management LLC now owns 1,860 shares of the company’s stock worth $96,000 after purchasing an additional 600 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new stake in General Mills during the 1st quarter worth approximately $207,000. ST Germain D J Co. Inc. increased its position in General Mills by 0.4% during the 1st quarter. ST Germain D J Co. Inc. now owns 316,931 shares of the company’s stock worth $16,401,000 after purchasing an additional 1,331 shares in the last quarter. Comerica Bank increased its position in General Mills by 1.5% during the 1st quarter. Comerica Bank now owns 140,422 shares of the company’s stock worth $7,238,000 after purchasing an additional 2,130 shares in the last quarter. Finally, MV Capital Management Inc. increased its position in General Mills by 1,265.9% during the 1st quarter. MV Capital Management Inc. now owns 7,321 shares of the company’s stock worth $379,000 after purchasing an additional 6,785 shares in the last quarter. 69.16% of the stock is owned by institutional investors.
A number of analysts recently issued reports on GIS shares. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and increased their target price for the stock from $43.00 to $54.00 in a research report on Thursday, March 14th. Guggenheim reissued a “buy” rating on shares of General Mills in a research report on Tuesday, February 26th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 target price on shares of General Mills in a research report on Wednesday, March 20th. Finally, Morgan Stanley increased their target price on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.91.
In other General Mills news, insider John R. Church sold 4,719 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now owns 34,112 shares in the company, valued at approximately $1,732,207.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn P. Ogrady sold 118,152 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the completion of the transaction, the insider now owns 187,891 shares of the company’s stock, valued at approximately $9,112,713.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by company insiders.
NYSE GIS opened at $51.54 on Friday. The company has a market capitalization of $30.78 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.18 and a beta of 0.77. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $52.17. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. General Mills’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.14 earnings per share for the current fiscal year.
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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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