General Mills, Inc. $GIS Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in General Mills, Inc. (NYSE:GIS) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,997 shares of the company’s stock after purchasing an additional 144,631 shares during the period. BNP Paribas Financial Markets’ holdings in General Mills were worth $57,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of General Mills during the 2nd quarter worth approximately $9,188,000. Bank of Nova Scotia raised its stake in General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after purchasing an additional 2,552 shares during the last quarter. WINTON GROUP Ltd raised its stake in General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after purchasing an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC raised its holdings in General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after acquiring an additional 15,041 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $275,827.50. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $2,947,288.54. This trade 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 currently owned by corporate insiders.

General Mills Price Performance

GIS stock opened at $33.07 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $17.65 billion, a PE ratio of 8.09 and a beta of -0.03. The business’s fifty day moving average price is $35.14 and its 200 day moving average price is $41.85. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19.

General Mills (NYSE:GIS) last issued its quarterly earnings results 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). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current year.

Wall Street Analyst Weigh In

GIS has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on General Mills from $42.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, March 19th. Wells Fargo & Company lowered their price objective on General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Royal Bank Of Canada decreased their target price on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Zacks Research downgraded shares of General Mills from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $36.00 target price on shares of General Mills in a research note on Tuesday. Four 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. According to MarketBeat.com, General Mills presently has an average rating of “Reduce” and a consensus target price of $41.28.

About General Mills

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.