General Mills, Inc. $GIS Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,197,534 shares of the company’s stock after buying an additional 172,200 shares during the quarter. Geode Capital Management LLC’s holdings in General Mills were worth $704,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after purchasing an additional 145,701 shares in the last quarter. Invesco Ltd. boosted its holdings in General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after purchasing an additional 883,150 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in General Mills by 22.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after purchasing an additional 1,383,913 shares in the last quarter. Capital World Investors lifted its stake in General Mills by 0.3% in the third quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock valued at $281,601,000 after buying an additional 16,028 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in General Mills by 2.9% in the third quarter. Legal & General Group Plc now owns 4,111,787 shares of the company’s stock valued at $207,316,000 after buying an additional 115,093 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on GIS. BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They issued a “neutral” rating for the company. TD Cowen reduced 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. Evercore set a $45.00 price objective on General Mills in a research note on Wednesday, February 18th. UBS Group reduced their price objective on General Mills from $40.00 to $35.00 and set a “sell” rating for the company in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 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. According to MarketBeat.com, General Mills currently has an average rating of “Reduce” and a consensus target price of $41.78.

General Mills Price Performance

General Mills stock opened at $33.82 on Friday. General Mills, Inc. has a 12 month low of $32.64 and a 12 month high of $55.19. 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 business has a 50 day simple moving average of $35.22 and a 200-day simple moving average of $41.97. The stock has a market capitalization of $18.05 billion, a PE ratio of 8.27 and a beta of -0.02.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 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 company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the company earned $1.12 EPS. General Mills’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities analysts predict that General Mills, Inc. will post 3.43 earnings per share for the current year.

Insider Activity at General Mills

In other General Mills news, 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 completion of the transaction, the insider owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $275,827.50. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. 0.30% of the stock is 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.