Edgemoor Investment Advisors Inc. Invests $2.10 Million in General Mills, Inc. $GIS

Key Points

• Edgemoor Investment Advisors disclosed a new position in General Mills, buying 45,251 shares worth about $2.1 million in the fourth quarter.
• General Mills recently reported weaker-than-expected quarterly results, with EPS of $0.64 versus estimates of $0.73 and revenue of $4.44 billion, down 8.4% year over year.
• Analysts have turned more cautious on the stock, with multiple price-target cuts and an overall “Reduce” consensus rating; the average target price is $41.78.

Edgemoor Investment Advisors Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 45,251 shares of the company's stock, valued at approximately $2,104,000.

A number of other hedge funds also recently made changes to their positions in GIS. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills in the third quarter valued at $25,000. Close Asset Management Ltd purchased a new stake in General Mills during the 3rd quarter worth $28,000. Binnacle Investments Inc increased its stake in General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock worth $33,000 after buying an additional 500 shares during the period. Kelleher Financial Advisors acquired a new position in General Mills in the 3rd quarter worth $34,000. Finally, Activest Wealth Management lifted its holdings in General Mills by 211.7% in the 4th quarter. Activest Wealth Management now owns 695 shares of the company's stock worth $32,000 after buying an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

GIS stock opened at $33.82 on Friday. The stock's 50 day simple moving average is $35.22 and its 200 day simple moving average is $41.97. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19. The firm has a market cap of $18.05 billion, a P/E ratio of 8.27 and a beta of -0.02. 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 released its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 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 during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the firm earned $1.12 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that General Mills, Inc. will post 3.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GIS. Stifel Nicolaus lowered their target price on General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Mizuho cut their price target on General Mills from $47.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. UBS Group reduced their price target on General Mills from $40.00 to $35.00 and set a "sell" rating for the company in a report on Thursday, March 19th. Piper Sandler lowered their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Finally, Morgan Stanley dropped their price objective on General Mills from $47.00 to $44.00 and set an "underweight" rating on the stock in a report on Wednesday, February 18th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $41.78.

Insider Transactions at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated 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 directly owned 62,283 shares of the company's stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider directly 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 SEC filing for this sale provides additional information. Company insiders own 0.30% of the company's stock.

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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