Fifth Third Bancorp Acquires 50,822 Shares of General Mills, Inc. $GIS

Key Points

• Fifth Third Bancorp increased its stake in General Mills by 140.2% in Q4, buying 50,822 shares to hold 87,060 shares worth about $4.05 million.
• General Mills missed Quarterly expectations, reporting $0.64 EPS vs. $0.73 expected and $4.44B revenue (down 8.4% YoY vs. $4.53B forecast).
• Analysts have trimmed targets and the stock carries a consensus rating of "Reduce" with an average price target of $43.22; shares trade near $34.74 with a market cap of $18.54B and a P/E of 8.49.

Fifth Third Bancorp increased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 140.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 87,060 shares of the company's stock after buying an additional 50,822 shares during the quarter. Fifth Third Bancorp's holdings in General Mills were worth $4,048,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GIS. Vermillion & White Wealth Management Group LLC bought a new stake in General Mills in the 3rd quarter worth about $25,000. Close Asset Management Ltd bought a new stake in General Mills in the 3rd quarter worth about $28,000. Davis Capital Management bought a new stake in General Mills in the 3rd quarter worth about $29,000. Financial Consulate Inc. bought a new stake in General Mills in the 3rd quarter worth about $32,000. Finally, Salomon & Ludwin LLC increased its holdings in General Mills by 1,094.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 645 shares of the company's stock worth $32,000 after buying an additional 591 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Down 1.6%

Shares of NYSE:GIS opened at $34.74 on Friday. General Mills, Inc. has a 52-week low of $34.04 and a 52-week high of $55.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 8.49 and a beta of -0.02. The stock's 50-day simple moving average is $38.57 and its two-hundred day simple moving average is $43.78.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data 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). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm's quarterly revenue was down 8.4% on a year-over-year basis. Analysts expect that General Mills, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings cut General Mills from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, January 13th. Stifel Nicolaus dropped their target price on General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Piper Sandler dropped their target price on General Mills from $53.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Finally, Barclays dropped their target price on General Mills from $46.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, General Mills presently has a consensus rating of "Reduce" and an average price target of $43.22.

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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