Wedgewood Investors Inc. PA Lowers Holdings in General Mills, Inc. (NYSE:GIS)


Share on StockTwits

Wedgewood Investors Inc. PA reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.6% in the first quarter, HoldingsChannel reports. The firm owned 12,144 shares of the company’s stock after selling 326 shares during the period. Wedgewood Investors Inc. PA’s holdings in General Mills were worth $745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pflug Koory LLC raised its stake in General Mills by 349.0% in the fourth quarter. Pflug Koory LLC now owns 449 shares of the company’s stock valued at $26,000 after buying an additional 349 shares during the last quarter. Cypress Point Wealth Management LLC acquired a new stake in General Mills during the fourth quarter worth about $28,000. Mascoma Wealth Management LLC acquired a new stake in General Mills during the first quarter worth about $32,000. SOA Wealth Advisors LLC. acquired a new stake in General Mills during the fourth quarter worth about $36,000. Finally, Wolff Wiese Magana LLC purchased a new position in General Mills during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.17% of the company’s stock.

Several research firms have recently weighed in on GIS. Jefferies Financial Group decreased their target price on General Mills from $64.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, January 12th. JPMorgan Chase & Co. cut their target price on General Mills from $62.00 to $55.00 in a research note on Tuesday, January 19th. Morgan Stanley dropped their price objective on General Mills from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, January 14th. Finally, Credit Suisse Group dropped their price objective on General Mills from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, March 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $63.27.

In related news, General Counsel Richard C. Allendorf sold 10,864 shares of the firm’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $62.16, for a total transaction of $675,306.24. Following the transaction, the general counsel now owns 90,630 shares in the company, valued at $5,633,560.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Church sold 25,812 shares of the firm’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $60.81, for a total transaction of $1,569,627.72. Following the transaction, the insider now owns 75,728 shares in the company, valued at approximately $4,605,019.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,208 shares of company stock worth $4,436,830. Corporate insiders own 0.51% of the company’s stock.

NYSE GIS traded up $0.12 during trading hours on Tuesday, reaching $61.72. The company’s stock had a trading volume of 62,006 shares, compared to its average volume of 4,795,900. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $60.81 and a 200 day simple moving average of $59.18. General Mills, Inc. has a 52 week low of $53.96 and a 52 week high of $66.14. The stock has a market cap of $37.65 billion, a PE ratio of 15.79, a PEG ratio of 1.98 and a beta of 0.57.

General Mills (NYSE:GIS) last issued its earnings results on Tuesday, March 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). General Mills had a return on equity of 28.60% and a net margin of 13.16%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the business earned $0.77 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that General Mills, Inc. will post 3.73 EPS for the current year.

General Mills Company 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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Further Reading: What is a dead cat bounce?

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.