Bank of New York Mellon Corp Purchases 301,724 Shares of General Mills, Inc. $GIS

Key Points

• Bank of New York Mellon boosted its stake in General Mills by 8.6% in the fourth quarter, buying 301,724 additional shares and bringing its total holding to 3.8 million shares valued at about $176.8 million.
• Insiders sold shares in May, including Jacqueline Williams-Roll and Ricardo Fernandez, both of whom reduced their positions by roughly 10% to 11% through separate transactions.
• General Mills reported weaker results and cautious analyst sentiment: its latest quarterly EPS and revenue both missed estimates, while analysts currently have a consensus rating of “Reduce” with an average price target of $39.39.

Bank of New York Mellon Corp increased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,802,960 shares of the company's stock after purchasing an additional 301,724 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.71% of General Mills worth $176,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Smith Moore & CO. lifted 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 valued at $443,000 after acquiring an additional 225 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock valued at $565,000 after purchasing an additional 225 shares during the period. Stonebridge Capital Advisors LLC lifted its stake in General Mills by 0.7% in the second 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. Allegheny Financial Group increased its position in shares of General Mills by 4.8% during the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock valued at $228,000 after buying an additional 226 shares during the period. Finally, Tempus Wealth Planning LLC lifted its position in General Mills by 5.7% during the third quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company's stock valued at $217,000 after buying an additional 231 shares during the period. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling

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

General Mills Stock Performance

Shares of General Mills stock opened at $33.18 on Friday. The company has a 50-day simple moving average of $34.81 and a two-hundred day simple moving average of $41.48. The company has a market capitalization of $17.71 billion, a PE ratio of 8.11 and a beta of -0.03. 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, Inc. has a one year low of $31.75 and a one year high of $55.19.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The business's revenue for the quarter was down 8.4% on a year-over-year basis. Research analysts expect that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GIS. Evercore set a $45.00 price target on General Mills in a research note on Wednesday, February 18th. Zacks Research cut shares of General Mills from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. BTIG Research started coverage on shares of General Mills in a research note on Monday, April 13th. They set a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Finally, Sanford C. Bernstein downgraded General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 target price for the company. in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $39.39.

General Mills Company Profile

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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