Pictet Asset Management Holding SA Has $15.24 Million Stock Position in General Mills, Inc. $GIS

Pictet Asset Management Holding SA reduced its holdings in General Mills, Inc. (NYSE:GIS) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 327,710 shares of the company’s stock after selling 19,134 shares during the quarter. Pictet Asset Management Holding SA’s holdings in General Mills were worth $15,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Planning Co of New England Inc. raised its stake in shares of General Mills by 4.2% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock valued at $273,000 after purchasing an additional 219 shares during the period. Smith Moore & CO. raised its stake in shares of General Mills by 2.6% during the 3rd quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after purchasing an additional 225 shares in the last quarter. Stonebridge Capital Advisors LLC raised its position in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after acquiring an additional 226 shares in the last quarter. Tempus Wealth Planning LLC lifted its stake in General Mills by 5.7% in the 3rd quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company’s stock valued at $217,000 after purchasing an additional 231 shares during the last quarter. Finally, N.E.W. Advisory Services LLC lifted its position in shares of General Mills by 35.4% in the third quarter. N.E.W. Advisory Services LLC now owns 937 shares of the company’s stock valued at $47,000 after buying an additional 245 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE:GIS opened at $34.74 on Friday. General Mills, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $55.93. The company has a 50 day simple moving average of $38.57 and a two-hundred day simple moving average of $43.81. The company has a market capitalization of $18.54 billion, a PE ratio of 8.49 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

General Mills (NYSE:GIS) last released its 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 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 firm earned $1.12 EPS. General Mills’s quarterly revenue was down 8.4% on a year-over-year basis. Research analysts anticipate that General Mills, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen cut their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Morgan Stanley reduced their target price on General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Wednesday, February 18th. Royal Bank Of Canada reduced their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Mizuho decreased their target price on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Finally, Stifel Nicolaus decreased their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Four equities 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $43.22.

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.