Summit Global Investments Purchases New Holdings in General Mills, Inc. (NYSE:GIS)

Summit Global Investments bought a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 39,170 shares of the company's stock, valued at approximately $2,342,000.

Other large investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $31,000. VSM Wealth Advisory LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $32,000. Transce3nd LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $32,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of General Mills during the 4th quarter valued at about $34,000. Institutional investors own 75.71% of the company's stock.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

General Mills Trading Up 0.4%

Shares of GIS traded up $0.20 during mid-day trading on Friday, hitting $54.19. 8,115,716 shares of the company's stock traded hands, compared to its average volume of 4,520,667. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $29.87 billion, a P/E ratio of 11.78, a PEG ratio of 1.94 and a beta of 0.05. The business's 50-day moving average price is $56.35 and its 200-day moving average price is $59.95. General Mills, Inc. has a 1 year low of $52.39 and a 1 year high of $75.90.

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

Wall Street Analyst Weigh In

GIS has been the subject of a number of research analyst reports. UBS Group initiated coverage on General Mills in a research report on Wednesday, April 23rd. They set a "sell" rating and a $54.00 price target for the company. Jefferies Financial Group boosted their target price on General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. 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 note on Thursday, March 20th. Barclays decreased their price target on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $64.69.

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.