Steel Grove Capital Advisors LLC Buys Shares of 28,111 General Mills, Inc. $GIS

Steel Grove Capital Advisors LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,111 shares of the company’s stock, valued at approximately $1,307,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in General Mills in the 3rd quarter valued at approximately $25,000. Close Asset Management Ltd acquired a new stake in shares of General Mills during the 3rd quarter worth approximately $28,000. Activest Wealth Management grew its holdings in shares of General Mills by 211.7% during the 4th quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after purchasing an additional 472 shares in the last quarter. Binnacle Investments Inc grew its holdings in shares of General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of General Mills by 190.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock worth $34,000 after purchasing an additional 483 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS stock opened at $33.17 on Wednesday. The stock’s fifty day simple moving average is $35.50 and its 200 day simple moving average is $42.21. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 8.11 and a beta of -0.02. General Mills, Inc. has a one year low of $32.64 and a one year high of $55.19.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. On average, analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BTIG Research assumed coverage on General Mills in a report on Monday, April 13th. They set a “neutral” rating on the stock. Mizuho decreased their price objective on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Bank of America lowered General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Monday, February 23rd. Sanford C. Bernstein decreased their price objective on General Mills from $53.00 to $48.00 and set a “market perform” rating on the stock in a report on Wednesday, February 18th. Finally, Barclays decreased their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $42.44.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.