Fifth Third Bancorp Sells 5,873 Shares of General Mills, Inc. $GIS

Key Points

• Fifth Third Bancorp reduced its stake in General Mills by 11.9%, selling 5,873 shares during the second quarter, leaving them with 43,411 shares valued at approximately $2.25 million.
• General Mills reported $0.86 EPS for its latest quarter, exceeding analyst expectations of $0.82 but showing a 6.8% decrease in revenue year-over-year.
• The stock currently holds a consensus rating of "Hold" with a target price averaging $55.82, according to various equity analysts.

Fifth Third Bancorp reduced its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,411 shares of the company's stock after selling 5,873 shares during the quarter. Fifth Third Bancorp's holdings in General Mills were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GIS. Wealth Enhancement Advisory Services LLC boosted its position in shares of General Mills by 31.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 217,729 shares of the company's stock worth $13,885,000 after purchasing an additional 52,262 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of General Mills by 23.2% in the 1st quarter. AdvisorNet Financial Inc now owns 8,120 shares of the company's stock worth $485,000 after purchasing an additional 1,530 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of General Mills by 6,607.0% in the 1st quarter. GAMMA Investing LLC now owns 1,171,705 shares of the company's stock worth $70,056,000 after purchasing an additional 1,154,235 shares in the last quarter. Rhumbline Advisers boosted its position in shares of General Mills by 5.4% in the 1st quarter. Rhumbline Advisers now owns 1,186,047 shares of the company's stock worth $70,914,000 after purchasing an additional 60,480 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of General Mills by 12.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,827 shares of the company's stock worth $468,000 after purchasing an additional 848 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 1.3%

NYSE:GIS opened at $50.09 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.26 and a beta of -0.02. General Mills, Inc. has a one year low of $48.29 and a one year high of $74.98. The business has a fifty day moving average price of $49.77 and a 200-day moving average price of $53.34.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the business posted $1.07 EPS. General Mills's revenue was down 6.8% on a year-over-year basis. Sell-side analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GIS shares. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. HSBC lowered their price objective on General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. UBS Group lowered their price objective on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a research report on Thursday, September 18th. Finally, Bank of America lowered their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus target price of $55.82.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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