Goldman Sachs Group Inc. Boosts Stock Holdings in General Mills, Inc. $GIS

Goldman Sachs Group Inc. lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 18.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,926,607 shares of the company’s stock after acquiring an additional 935,679 shares during the period. Goldman Sachs Group Inc.’s holdings in General Mills were worth $275,587,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of General Mills during the third quarter worth $25,000. Close Asset Management Ltd purchased a new stake in shares of General Mills during the third quarter worth $28,000. Bruce G. Allen Investments LLC increased its position in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Binnacle Investments Inc increased its position in shares of General Mills by 312.5% during the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the period. Finally, Kelleher Financial Advisors purchased a new stake in shares of General Mills during the third quarter worth $34,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler cut their price objective 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. Morgan Stanley cut their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Mizuho dropped their target price on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Finally, BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $39.39.

Insider Activity

In other news, 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 transaction of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. 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 company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

General Mills Trading Up 3.1%

NYSE:GIS opened at $33.18 on Friday. The stock has a 50-day simple moving average of $34.81 and a 200-day simple moving average of $41.48. The stock has a market cap of $17.71 billion, a P/E ratio of 8.11 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $55.19. 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 quarterly earnings data 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). The business had revenue of $4.44 billion for the quarter, compared to analyst estimates 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 was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

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.