Gabelli Funds LLC Sells 30,600 Shares of General Mills, Inc. $GIS

Gabelli Funds LLC cut its position in shares of General Mills, Inc. (NYSE:GIS) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,000 shares of the company’s stock after selling 30,600 shares during the period. Gabelli Funds LLC’s holdings in General Mills were worth $8,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LBP AM SA bought a new stake in shares of General Mills during the fourth quarter valued at approximately $2,639,000. Oak Thistle LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $1,320,000. Robeco Institutional Asset Management B.V. increased its position in shares of General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after purchasing an additional 848,712 shares during the period. Korea Investment CORP increased its position in shares of General Mills by 161.9% during the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock valued at $16,800,000 after purchasing an additional 205,981 shares during the period. Finally, AE Wealth Management LLC increased its position in shares of General Mills by 7.7% during the third quarter. AE Wealth Management LLC now owns 346,005 shares of the company’s stock valued at $17,445,000 after purchasing an additional 24,688 shares during the period. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

General Mills stock opened at $33.81 on Wednesday. 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 stock has a fifty day moving average price of $36.25 and a two-hundred day moving average price of $42.67. General Mills, Inc. has a 52-week low of $32.79 and a 52-week high of $55.35. The firm has a market capitalization of $18.04 billion, a P/E ratio of 8.27 and a beta of -0.02.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on GIS. Barclays lowered their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Stifel Nicolaus lowered their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Royal Bank Of Canada lowered their price target on General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. TD Cowen dropped their price objective on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $42.44.

Insider Buying and Selling at General Mills

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

General Mills Company 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.