Cetera Advisors LLC raised its position in General Mills, Inc. (NYSE:GIS) by 9.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,766 shares of the company’s stock after buying an additional 2,363 shares during the period. Cetera Advisors LLC’s holdings in General Mills were worth $1,435,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Actinver Wealth Management Inc. purchased a new position in General Mills in the 4th quarter valued at about $991,000. Two Sigma Advisers LP boosted its position in General Mills by 24.1% in the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock valued at $34,957,000 after buying an additional 174,157 shares during the last quarter. Norges Bank purchased a new position in General Mills in the 4th quarter valued at about $208,406,000. DNB Asset Management AS boosted its position in General Mills by 27.4% in the 1st quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock valued at $5,719,000 after buying an additional 23,762 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in General Mills by 5.5% in the 4th quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock valued at $72,721,000 after buying an additional 96,997 shares during the last quarter. 69.22% of the stock is owned by institutional investors.
In related news, CFO Donal L. Mulligan sold 120,722 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the sale, the chief financial officer now owns 252,326 shares in the company, valued at $11,985,485. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donal L. Mulligan sold 126,337 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $50.00, for a total transaction of $6,316,850.00. Following the sale, the chief financial officer now owns 378,663 shares in the company, valued at approximately $18,933,150. The disclosure for this sale can be found here. In the last quarter, insiders have sold 444,222 shares of company stock worth $21,764,784. 0.59% of the stock is owned by company insiders.
Several brokerages have recently commented on GIS. Wells Fargo & Co increased their price target on shares of General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research report on Friday, March 22nd. Morgan Stanley increased their price target 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. Citigroup reaffirmed a “top pick” rating and set a $60.00 price target (up previously from $54.00) on shares of General Mills in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on shares of General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Credit Suisse Group increased their price target on shares of General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $49.91.
GIS opened at $52.41 on Thursday. The stock has a market cap of $31.01 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.20 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 $52.46. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61.
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 consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. General Mills’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. Sell-side analysts predict that General Mills, Inc. will post 3.14 earnings per share for the current fiscal year.
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General Mills Profile
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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