Bp Plc lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 157.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,000 shares of the company’s stock after acquiring an additional 99,000 shares during the quarter. Bp Plc’s holdings in General Mills were worth $8,384,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. National Asset Management Inc. purchased a new stake in General Mills in the first quarter worth $892,000. Greenleaf Trust increased its position in General Mills by 27.1% in the first quarter. Greenleaf Trust now owns 7,789 shares of the company’s stock worth $403,000 after buying an additional 1,659 shares during the last quarter. Abbrea Capital LLC increased its position in General Mills by 9.1% in the first quarter. Abbrea Capital LLC now owns 9,981 shares of the company’s stock worth $517,000 after buying an additional 833 shares during the last quarter. Todd Asset Management LLC increased its position in General Mills by 226.8% in the first quarter. Todd Asset Management LLC now owns 45,663 shares of the company’s stock worth $2,363,000 after buying an additional 31,692 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its position in General Mills by 18.2% in the first quarter. Jensen Investment Management Inc. now owns 24,420 shares of the company’s stock worth $1,264,000 after buying an additional 3,760 shares during the last quarter. 69.22% of the stock is owned by institutional investors.
A number of research firms have issued reports on GIS. Bank of America reissued a “neutral” rating and issued a $49.00 target price on shares of General Mills in a research report on Friday, May 17th. Wells Fargo & Co raised their target price on General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research report on Friday, March 22nd. Morgan Stanley raised their target price on General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Citigroup reissued a “top pick” rating and issued a $60.00 target price (up from $54.00) on shares of General Mills in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their target price on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. General Mills has a consensus rating of “Hold” and a consensus target price of $50.17.
In other news, insider John R. Church sold 4,719 shares of General Mills stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares in the company, valued at $1,732,207.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donal L. Mulligan sold 120,722 shares of General Mills stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the transaction, the chief financial officer now owns 252,326 shares of the company’s stock, valued at $11,985,485. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by company insiders.
Shares of NYSE GIS opened at $52.71 on Thursday. The firm has a market capitalization of $31.37 billion, a PE ratio of 16.95, a P/E/G ratio of 2.38 and a beta of 0.77. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $53.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, equities research analysts predict that General Mills, Inc. will post 3.14 earnings per share for the current year.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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