General Mills, Inc. $GIS Stock Holdings Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in General Mills, Inc. (NYSE:GIS) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,269,781 shares of the company’s stock after acquiring an additional 109,063 shares during the quarter. Hsbc Holdings PLC’s holdings in General Mills were worth $59,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in General Mills by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after buying an additional 488,617 shares during the last quarter. Geode Capital Management LLC raised its position in General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares in the last quarter. Morgan Stanley lifted its stake in General Mills by 2.1% in the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in General Mills by 14.6% in the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after acquiring an additional 1,115,465 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Down 0.2%

Shares of General Mills stock opened at $33.36 on Tuesday. The stock has a market capitalization of $17.81 billion, a P/E ratio of 8.16 and a beta of -0.03. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $34.10 and a two-hundred day moving average price of $40.39. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $54.18.

Analysts Set New Price Targets

Several research firms have commented on GIS. Bank of America decreased their target price on shares of General Mills from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Stifel Nicolaus cut their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Mizuho reduced their price objective on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Piper Sandler decreased their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada lowered their target price 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. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Reduce” and a consensus price target of $39.39.

Insiders Place Their Bets

In other news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by 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.