Eurizon Capital SGR S.p.A. Acquires Shares of 928,399 General Mills, Inc. $GIS

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new stake in General Mills, buying 928,399 shares valued at about $43.2 million. The position represents roughly 0.17% of the company.
• General Mills stock was trading down modestly at $33.82, near its 52-week low of $32.64 and well below its 200-day average of $41.97. The company also carries a low valuation, with a P/E ratio of 8.27.
• The company reported weaker-than-expected quarterly results, with EPS of $0.64 versus analyst estimates of $0.73 and revenue of $4.44 billion versus expectations of $4.53 billion. Analysts currently have a cautious view, with a consensus rating of "Reduce" and an average price target of $41.78.

Eurizon Capital SGR S.p.A. acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 928,399 shares of the company's stock, valued at approximately $43,184,000. Eurizon Capital SGR S.p.A. owned about 0.17% of General Mills as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GIS. Vermillion & White Wealth Management Group LLC bought a new position in shares of General Mills during the 3rd quarter worth $25,000. Close Asset Management Ltd bought a new position in shares of General Mills during the 3rd quarter worth $28,000. Activest Wealth Management grew its position in shares of General Mills by 211.7% during 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. Binnacle Investments Inc grew its position in shares of 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 in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its position in shares of General Mills by 190.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company's stock worth $34,000 after buying an additional 483 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Trading Down 0.2%

General Mills stock opened at $33.82 on Friday. The stock has a 50-day moving average of $35.22 and a two-hundred day moving average of $41.97. 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 $32.64 and a one year high of $55.19. The stock has a market cap of $18.05 billion, a PE ratio of 8.27 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results 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 net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.53 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company's quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

Insider Transactions at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GIS. The Goldman Sachs Group dropped their price target on General Mills from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $38.00 to $32.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Evercore set a $45.00 price target on General Mills in a research report on Wednesday, February 18th. BTIG Research began coverage on General Mills in a research report on Monday, April 13th. They set a "neutral" rating on the stock. Finally, Royal Bank Of Canada dropped their price target on General Mills from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, General Mills currently has an average rating of "Reduce" and a consensus price target of $41.78.

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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