Arrowstreet Capital Limited Partnership Has $192.59 Million Stock Position in General Mills, Inc. $GIS

Key Points

• Arrowstreet Capital significantly increased its General Mills stake by 61.3% in the fourth quarter, buying 1.57 million additional shares. The hedge fund now owns 4.14 million shares valued at about $192.6 million.
• Several insiders sold shares in May, including Ricardo Fernandez and Jacqueline Williams-Roll, trimming their holdings by about 11.4% and 10.4%, respectively. Corporate insiders still own only 0.30% of the company.
• General Mills shares were trading around $34.47, near their 52-week low, after the company recently reported earnings and revenue below analyst estimates. Analysts currently have a consensus "Reduce" rating on the stock, with an average price target of $39.39.

Arrowstreet Capital Limited Partnership boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 61.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,141,691 shares of the company's stock after buying an additional 1,573,444 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.78% of General Mills worth $192,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Smith Moore & CO. increased its position in General Mills by 2.6% in the 3rd quarter. Smith Moore & CO. now owns 8,785 shares of the company's stock worth $443,000 after purchasing an additional 225 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of General Mills by 1.9% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock worth $565,000 after acquiring an additional 225 shares in the last quarter. Allegheny Financial Group boosted its stake in General Mills by 4.8% during the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock valued at $228,000 after purchasing an additional 226 shares during the period. Stonebridge Capital Advisors LLC lifted its position in shares of General Mills by 0.7% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock worth $1,702,000 after acquiring an additional 226 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its position in shares of General Mills by 3.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company's stock worth $320,000 after acquiring an additional 247 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

General Mills Trading Down 0.1%

Shares of GIS opened at $34.47 on Monday. The stock has a fifty day moving average price of $34.51 and a two-hundred day moving average price of $40.95. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 8.43 and a beta of -0.03. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the business posted $1.12 earnings per share. The firm's quarterly revenue was down 8.4% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 3.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their price objective on General Mills from $36.00 to $31.00 and set an "underweight" rating for the company in a research report on Wednesday, June 3rd. Zacks Research downgraded General Mills from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. Piper Sandler reduced their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Finally, UBS Group reduced their price objective on General Mills from $35.00 to $30.00 and set a "sell" rating for the company in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $39.39.

About General Mills

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.

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