General Mills, Inc. (NYSE:GIS) Stake Lowered by Avanza Fonder AB

Avanza Fonder AB reduced its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,987 shares of the company's stock after selling 10,665 shares during the quarter. Avanza Fonder AB's holdings in General Mills were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in General Mills during the 4th quarter valued at about $496,484,000. Ameriprise Financial Inc. lifted its stake in shares of General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after purchasing an additional 2,341,137 shares during the period. Vanguard Group Inc. boosted its stake in General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock worth $4,376,573,000 after buying an additional 1,868,508 shares during the last quarter. LSV Asset Management grew its holdings in General Mills by 115.2% in the fourth quarter. LSV Asset Management now owns 2,817,780 shares of the company's stock valued at $179,690,000 after purchasing an additional 1,508,680 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of General Mills during the 4th quarter worth $80,994,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Down 2.3%

NYSE GIS traded down $1.24 on Friday, hitting $53.50. 4,343,666 shares of the stock traded hands, compared to its average volume of 4,541,963. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average of $55.38 and a 200 day moving average of $59.30. General Mills, Inc. has a twelve month low of $52.39 and a twelve month high of $75.90. The company has a market capitalization of $29.49 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.02.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion during 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 business's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. As a group, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent research reports. Piper Sandler reduced their price target 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. Barclays decreased their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Morgan Stanley initiated coverage on shares of General Mills in a research note on Monday, March 24th. They set an "underweight" rating and a $53.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group downgraded General Mills from a "buy" rating to a "neutral" rating and lowered their target price for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.44.

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.