Norden Group LLC Has $956,000 Stock Holdings in General Mills, Inc. $GIS

Norden Group LLC decreased its stake in General Mills, Inc. (NYSE:GIS) by 15.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,461 shares of the company’s stock after selling 3,367 shares during the period. Norden Group LLC’s holdings in General Mills were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after buying an additional 741,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in General Mills by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock worth $428,213,000 after buying an additional 315,375 shares during the last quarter. Dimensional Fund Advisors LP raised its position in General Mills by 10.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock worth $417,674,000 after acquiring an additional 634,393 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company’s stock valued at $382,888,000 after acquiring an additional 414,768 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GIS. Bank of America lowered their price objective on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Stifel Nicolaus decreased their target price on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Jefferies Financial Group cut their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $51.13 on Thursday. The stock has a 50 day simple moving average of $49.79 and a 200 day simple moving average of $53.58. The stock has a market cap of $27.27 billion, a P/E ratio of 9.66, a PEG ratio of 1.28 and a beta of -0.02. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $74.98. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the business earned $1.07 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.