Altavista Wealth Management Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,011 shares of the company’s stock after selling 2,780 shares during the period. Altavista Wealth Management Inc.’s holdings in General Mills were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in GIS. Norges Bank purchased a new stake in General Mills during the 4th quarter valued at about $208,406,000. Oregon Public Employees Retirement Fund grew its stake in General Mills by 3,788.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock valued at $65,000 after acquiring an additional 2,466,013 shares in the last quarter. BlackRock Inc. grew its stake in General Mills by 2.6% during the 4th quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock valued at $1,593,046,000 after acquiring an additional 1,049,722 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in General Mills by 469.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 953,445 shares of the company’s stock valued at $43,653,000 after acquiring an additional 785,927 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in General Mills by 42.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,965,879 shares of the company’s stock valued at $101,734,000 after acquiring an additional 584,631 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.
NYSE:GIS opened at $52.61 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.22 and a beta of 0.75. General Mills, Inc. has a 1-year low of $36.42 and a 1-year high of $53.66.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.14. The company 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 revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities analysts expect that General Mills, Inc. will post 3.15 EPS for the current fiscal year.
In other General Mills news, CFO Donal L. Mulligan sold 126,337 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $50.00, for a total value of $6,316,850.00. Following the transaction, the chief financial officer now directly owns 378,663 shares in the company, valued at approximately $18,933,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Kerry Clark sold 14,836 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the completion of the transaction, the director now owns 62,211 shares in the company, valued at $3,208,221.27. The disclosure for this sale can be found here. Insiders sold a total of 323,500 shares of company stock worth $16,030,489 over the last quarter. 0.59% of the stock is currently owned by company insiders.
GIS has been the subject of several research reports. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and upped their price objective for the company from $43.00 to $54.00 in a research note on Thursday, March 14th. Wells Fargo & Co upped their price objective on shares of General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Wednesday, March 20th. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Finally, BMO Capital Markets upped their price objective on shares of General Mills from $51.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.16.
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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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