CoreCap Advisors LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

CoreCap Advisors LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 54.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812 shares of the company’s stock after selling 955 shares during the period. CoreCap Advisors LLC’s holdings in General Mills were worth $52,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC grew its holdings in General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock valued at $304,000 after buying an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in General Mills by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock valued at $53,211,000 after acquiring an additional 85,612 shares during the last quarter. JPMorgan Chase & Co. raised its position in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. Franklin Resources Inc. raised its position in General Mills by 10.6% in the fourth quarter. Franklin Resources Inc. now owns 484,550 shares of the company’s stock valued at $30,900,000 after purchasing an additional 46,536 shares during the period. Finally, Ameriprise Financial Inc. raised its position in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after purchasing an additional 2,341,137 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of NYSE:GIS opened at $53.43 on Thursday. The company’s fifty day moving average is $57.79 and its two-hundred day moving average is $61.04. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $52.93 and a 12-month high of $75.90. The company has a market cap of $29.45 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.05.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $1.17 EPS. The company’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. UBS Group began coverage on General Mills in a research report on Wednesday, April 23rd. They set a “sell” rating and a $54.00 target price on the stock. Morgan Stanley began coverage on General Mills in a research note on Monday, March 24th. They issued an “underweight” rating and a $53.00 target price for the company. Wells Fargo & Company decreased their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Barclays reduced their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, General Mills has an average rating of “Hold” and a consensus target price of $65.00.

About General Mills

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.