Shell Asset Management Co. Cuts Position in General Mills, Inc. (NYSE:GIS)

Shell Asset Management Co. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 4.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 151,872 shares of the company’s stock after selling 6,400 shares during the quarter. Shell Asset Management Co.’s holdings in General Mills were worth $8,014,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Utah Retirement Systems increased its stake in shares of General Mills by 0.4% in the 4th quarter. Utah Retirement Systems now owns 114,267 shares of the company’s stock valued at $6,120,000 after purchasing an additional 400 shares in the last quarter. AXA increased its stake in shares of General Mills by 0.9% in the 4th quarter. AXA now owns 1,417,427 shares of the company’s stock valued at $75,917,000 after purchasing an additional 12,700 shares in the last quarter. Swiss National Bank increased its stake in shares of General Mills by 20.8% in the 1st quarter. Swiss National Bank now owns 3,101,252 shares of the company’s stock valued at $163,653,000 after purchasing an additional 533,000 shares in the last quarter. Evermay Wealth Management LLC increased its stake in shares of General Mills by 15.3% in the 4th quarter. Evermay Wealth Management LLC now owns 6,132 shares of the company’s stock valued at $328,000 after purchasing an additional 815 shares in the last quarter. Finally, Neo Ivy Capital Management increased its stake in shares of General Mills by 10.3% in the 4th quarter. Neo Ivy Capital Management now owns 13,115 shares of the company’s stock valued at $702,000 after purchasing an additional 1,226 shares in the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.

In related news, insider Bethany C. Quam sold 13,729 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $54.20, for a total value of $744,111.80. Following the transaction, the insider now directly owns 51,749 shares in the company, valued at $2,804,795.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi J. Benson sold 17,475 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $61.19, for a total value of $1,069,295.25. Following the completion of the transaction, the insider now owns 47,702 shares in the company, valued at $2,918,885.38. The disclosure for this sale can be found here. Insiders sold 137,668 shares of company stock worth $8,078,504 over the last quarter. 0.52% of the stock is currently owned by insiders.

Several brokerages recently weighed in on GIS. Jefferies Financial Group lifted their price target on General Mills from $56.00 to $61.00 and gave the company a “positive” rating in a research note on Thursday. Royal Bank of Canada lifted their price objective on General Mills from $57.00 to $61.00 in a report on Thursday, March 19th. UBS Group lifted their price objective on General Mills from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Piper Sandler lifted their price objective on General Mills from $67.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their price objective on General Mills from $57.00 to $63.00 in a report on Thursday, March 19th. One investment 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. General Mills currently has an average rating of “Hold” and an average target price of $59.74.

Shares of General Mills stock traded up $0.01 on Friday, hitting $59.96. 2,089,528 shares of the company were exchanged, compared to its average volume of 3,313,174. The stock has a market capitalization of $36.34 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. The company has a 50-day moving average price of $59.48 and a 200 day moving average price of $54.45. General Mills, Inc. has a 1-year low of $46.59 and a 1-year high of $64.31. The company has a quick ratio of 0.41, a current ratio of 0.64 and a debt-to-equity ratio of 1.47.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 18th. The company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. General Mills had a return on equity of 26.40% and a net margin of 12.68%. The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts forecast that General Mills, Inc. will post 3.58 EPS for the current year.

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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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