General Mills, Inc. (NYSE:GIS) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 95.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,329 shares of the company's stock after purchasing an additional 4,559 shares during the period. Dark Forest Capital Management LP's holdings in General Mills were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in General Mills in the 4th quarter valued at $496,484,000. Nordea Investment Management AB increased its stake in shares of General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock worth $497,054,000 after acquiring an additional 3,058,414 shares during the period. JPMorgan Chase & Co. raised its holdings in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. Nepsis Inc. lifted its position in General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock valued at $138,023,000 after purchasing an additional 2,104,353 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 1.9 %

NYSE GIS traded down $1.06 during mid-day trading on Thursday, reaching $55.68. 1,385,223 shares of the stock were exchanged, compared to its average volume of 5,620,601. The stock has a market capitalization of $30.69 billion, a PE ratio of 12.10, a PEG ratio of 1.94 and a beta of 0.15. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 1-year low of $55.01 and a 1-year high of $75.90. The business's fifty day simple moving average is $59.13 and its 200 day simple moving average is $62.08.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results 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. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 earnings per share. On average, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company's stock, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on GIS shares. Wells Fargo & Company reduced their target price on General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Piper Sandler decreased their price objective on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Citigroup dropped their target price on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, Bank of America dropped their price objective on General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

About General Mills

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.