BNP Paribas Financial Markets Acquires 144,631 Shares of General Mills, Inc. $GIS

Key Points

• BNP Paribas Financial Markets increased its stake in General Mills by 13.1% in the fourth quarter, buying 144,631 additional shares and bringing its total holdings to 1,246,997 shares worth about $57.99 million.
• General Mills shares were down 1.7% to $33.07, near their 12-month low of $32.64, as the stock continued to trade well below its 200-day moving average.
• The company recently missed earnings and revenue estimates, reporting $0.64 EPS versus $0.73 expected and $4.44 billion in revenue versus $4.53 billion expected; analysts currently have a consensus rating of "Reduce" with a $41.28 price target.

BNP Paribas Financial Markets boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,997 shares of the company's stock after acquiring an additional 144,631 shares during the period. BNP Paribas Financial Markets owned 0.23% of General Mills worth $57,985,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. State Street Corp raised its position in shares of General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company's stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the last quarter. Geode Capital Management LLC raised its position in shares of General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock valued at $704,170,000 after buying an additional 172,200 shares during the last quarter. Norges Bank purchased a new position in shares of General Mills in the fourth quarter worth $361,552,000. Invesco Ltd. lifted its holdings in shares of General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company's stock worth $386,469,000 after buying an additional 883,150 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company's stock worth $384,625,000 after acquiring an additional 1,383,913 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Trading Down 1.7%

NYSE GIS opened at $33.07 on Wednesday. The stock has a market cap of $17.65 billion, a PE ratio of 8.09 and a beta of -0.03. General Mills, Inc. has a 12 month low of $32.64 and a 12 month high of $55.19. The company's 50-day moving average price is $35.14 and its 200-day moving average price is $41.85. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.

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

Insider Activity

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

Wall Street Analyst Weigh In

GIS has been the topic of a number of research reports. Piper Sandler reduced their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Evercore set a $45.00 price target on shares of General Mills in a research report on Wednesday, February 18th. UBS Group lowered their price objective on shares of General Mills from $35.00 to $30.00 and set a "sell" rating for the company in a research report on Tuesday. Barclays lowered their price objective on General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $36.00 price target on shares of General Mills in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, General Mills has a consensus rating of "Reduce" and a consensus price target of $41.28.

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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