Crestline Management LP Raises Stake in General Mills, Inc. (NYSE:GIS)

Crestline Management LP grew its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 114.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,541 shares of the company's stock after acquiring an additional 13,613 shares during the period. Crestline Management LP's holdings in General Mills were worth $1,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in General Mills by 1.2% in the 3rd quarter. Barclays PLC now owns 1,634,280 shares of the company's stock valued at $120,691,000 after purchasing an additional 19,290 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of General Mills by 0.7% during the third quarter. Franklin Resources Inc. now owns 438,014 shares of the company's stock valued at $31,025,000 after purchasing an additional 2,842 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of General Mills by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 792,993 shares of the company's stock valued at $58,563,000 after acquiring an additional 27,847 shares in the last quarter. JPMorgan Chase & Co. raised its position in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after buying an additional 2,926,232 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of General Mills by 16.0% during the fourth quarter. Diversified Trust Co now owns 4,207 shares of the company's stock worth $268,000 after purchasing an additional 579 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

NYSE:GIS traded up $0.36 during mid-day trading on Monday, hitting $54.86. The stock had a trading volume of 4,618,411 shares, compared to its average volume of 4,450,882. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.94 and a beta of 0.05. General Mills, Inc. has a twelve month low of $53.82 and a twelve month high of $75.90. The company's 50 day simple moving average is $58.30 and its 200 day simple moving average is $61.24.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the business earned $1.17 EPS. The company's quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

GIS has been the topic of a number of analyst reports. Mizuho lowered their price objective on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Citigroup reduced their target price on General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Piper Sandler reduced their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Finally, Morgan Stanley initiated coverage on shares of General Mills in a research report on Monday, March 24th. They set an "underweight" rating and a $53.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of "Hold" and a consensus price target of $65.00.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.