Ledyard National Bank cut its holdings in General Mills, Inc. (NYSE:GIS) by 9.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,617 shares of the company’s stock after selling 557 shares during the quarter. Ledyard National Bank’s holdings in General Mills were worth $344,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of General Mills by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,365,593 shares of the company’s stock valued at $550,698,000 after purchasing an additional 430,745 shares in the last quarter. Jensen Investment Management Inc. boosted its stake in General Mills by 0.6% during the fourth quarter. Jensen Investment Management Inc. now owns 6,660,181 shares of the company’s stock worth $391,619,000 after buying an additional 42,471 shares during the period. Norges Bank purchased a new position in General Mills during the fourth quarter worth $385,851,000. Bank of New York Mellon Corp boosted its stake in General Mills by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,008,383 shares of the company’s stock worth $353,294,000 after buying an additional 102,698 shares during the period. Finally, California Public Employees Retirement System boosted its stake in General Mills by 2.1% during the fourth quarter. California Public Employees Retirement System now owns 4,642,096 shares of the company’s stock worth $272,955,000 after buying an additional 94,075 shares during the period. 73.17% of the stock is owned by hedge funds and other institutional investors.
In other General Mills news, insider John R. Church sold 25,812 shares of the company’s stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $60.81, for a total value of $1,569,627.72. Following the sale, the insider now owns 75,728 shares in the company, valued at approximately $4,605,019.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bethany C. Quam sold 10,732 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $61.72, for a total value of $662,379.04. Following the transaction, the insider now directly owns 55,248 shares of the company’s stock, valued at $3,409,906.56. The disclosure for this sale can be found here. Insiders have sold 72,208 shares of company stock worth $4,436,830 in the last 90 days. Insiders own 0.51% of the company’s stock.
Shares of General Mills stock opened at $61.60 on Tuesday. The company has a market capitalization of $37.57 billion, a PE ratio of 15.79, a P/E/G ratio of 1.98 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.55 and a current ratio of 0.76. The company has a 50-day simple moving average of $60.81 and a two-hundred day simple moving average of $59.18. General Mills, Inc. has a one year low of $53.96 and a one year high of $66.14.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Tuesday, March 23rd. The company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). General Mills had a return on equity of 28.60% and a net margin of 13.16%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. General Mills’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that General Mills, Inc. will post 3.73 earnings per share for the current fiscal year.
GIS has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $62.00 to $55.00 in a research note on Tuesday, January 19th. Morgan Stanley lowered their target price on shares of General Mills from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, January 14th. Jefferies Financial Group decreased their price objective on General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, January 12th. Finally, Credit Suisse Group decreased their price objective on General Mills from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, March 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $63.27.
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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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