Wallace Capital Management Inc. Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Wallace Capital Management Inc. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 43.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,050 shares of the company’s stock after buying an additional 2,748 shares during the period. Wallace Capital Management Inc.’s holdings in General Mills were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in General Mills in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills in the 4th quarter valued at about $31,000. VSM Wealth Advisory LLC acquired a new position in General Mills in the fourth quarter valued at about $32,000. Finally, Transce3nd LLC purchased a new position in General Mills during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Piper Sandler lowered their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Barclays cut their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Finally, Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.69.

General Mills Stock Down 0.6%

GIS stock opened at $54.80 on Tuesday. The company’s 50 day moving average price is $57.33 and its 200 day moving average price is $60.66. The firm has a market capitalization of $30.21 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.94 and a beta of 0.05. General Mills, Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Company 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.