Employees Provident Fund Board Purchases New Shares in General Mills, Inc. $GIS

Employees Provident Fund Board acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 162,000 shares of the company’s stock, valued at approximately $7,533,000.

Other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of General Mills during the 3rd quarter valued at about $25,000. Reflection Asset Management purchased a new position in shares of General Mills during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC raised its stake in General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Close Asset Management Ltd bought a new position in General Mills in the third quarter worth about $28,000. Finally, Zions Bancorporation National Association UT lifted its holdings in General Mills by 248.1% in the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after buying an additional 449 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on GIS shares. BTIG Research began coverage on General Mills in a research report on Monday, April 13th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. decreased their target price on General Mills from $36.00 to $31.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Barclays lowered their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. TD Cowen dropped their price target on General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Finally, Mizuho reduced their price target on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $39.39.

General Mills Price Performance

NYSE GIS opened at $33.41 on Friday. General Mills, Inc. has a one year low of $31.75 and a one year high of $54.18. The stock has a 50-day moving average of $34.17 and a 200 day moving average of $40.53. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of 8.17 and a beta of -0.03. 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 issued its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.General Mills’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 3.42 EPS for the current year.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

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.