MQS Management LLC Takes $694,000 Position in General Mills, Inc. $GIS

MQS Management LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,929 shares of the company’s stock, valued at approximately $694,000.

Several other hedge funds have also made changes to their positions in the company. State Street Corp boosted its position in shares of General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the period. Invesco Ltd. boosted its position in shares of General Mills by 13.0% during the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock worth $386,469,000 after purchasing an additional 883,150 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of General Mills by 22.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock worth $384,625,000 after purchasing an additional 1,383,913 shares during the period. Capital World Investors boosted its position in shares of General Mills by 0.3% during the 3rd quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock worth $281,601,000 after purchasing an additional 16,028 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of General Mills by 2.9% during the 3rd quarter. Legal & General Group Plc now owns 4,111,787 shares of the company’s stock worth $207,316,000 after purchasing an additional 115,093 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price objective on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Piper Sandler lowered their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. TD Cowen lowered their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Sanford C. Bernstein lowered their price objective on shares of General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. Finally, Bank of America cut shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $42.44.

General Mills Price Performance

Shares of GIS opened at $33.71 on Friday. General Mills, Inc. has a twelve month low of $32.64 and a twelve month high of $55.19. The firm’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $42.42. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 8.24 and a beta of -0.02. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.

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

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.