Intech Investment Management LLC Sells 20,631 Shares of General Mills, Inc. $GIS

Intech Investment Management LLC lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,039 shares of the company’s stock after selling 20,631 shares during the period. Intech Investment Management LLC’s holdings in General Mills were worth $3,117,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of General Mills during the 3rd quarter valued at about $25,000. Close Asset Management Ltd bought a new position in shares of General Mills during the 3rd quarter valued at about $28,000. Activest Wealth Management lifted its holdings in shares of General Mills by 211.7% during the 4th quarter. Activest Wealth Management now owns 695 shares of the company’s stock valued at $32,000 after purchasing an additional 472 shares in the last quarter. Binnacle Investments Inc lifted its holdings in shares of General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in shares of General Mills by 190.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock valued at $34,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 1.7%

Shares of General Mills stock opened at $33.07 on Wednesday. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19. The stock has a market cap of $17.65 billion, a P/E ratio of 8.09 and a beta of -0.03. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $35.14 and its 200-day moving average is $41.85.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America cut their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday. Royal Bank Of Canada dropped their target price 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. BTIG Research initiated coverage on General Mills in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Piper Sandler dropped their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $41.28.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% 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 insiders.

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.