Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 56,900 Shares of General Mills, Inc. $GIS

Key Points

• Fjarde AP Fonden reduced its General Mills stake by 15% in the fourth quarter, selling 56,900 shares and leaving it with 323,028 shares worth about $15 million.
• Several other hedge funds and insiders also adjusted positions in GIS, including insider sales by Jacqueline Williams-Roll and Ricardo Fernandez, while institutional investors still hold about 75.71% of the stock.
• Wall Street sentiment remains cautious: analysts have lowered price targets, and General Mills currently carries a consensus “Reduce” rating with a target price of $39.39, while the stock trades near $33 and recently rose 3.1%.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 323,028 shares of the company's stock after selling 56,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of General Mills worth $15,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of GIS. Vermillion & White Wealth Management Group LLC bought a new stake in General Mills during the 3rd quarter worth approximately $25,000. Close Asset Management Ltd bought a new position in General Mills in the third quarter valued at approximately $28,000. Bruce G. Allen Investments LLC boosted its holdings in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after buying an additional 337 shares during the period. Binnacle Investments Inc boosted its holdings in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Finally, Kelleher Financial Advisors bought a new stake in shares of General Mills during the third quarter worth $34,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on GIS. Piper Sandler cut their price objective on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Bank of America lowered their target price on General Mills from $42.00 to $36.00 and set a "neutral" rating for the company in a report on Thursday, May 28th. BTIG Research assumed coverage on General Mills in a research note on Monday, April 13th. They issued a "neutral" rating on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 price target on shares of General Mills in a report on Tuesday. Finally, Sanford C. Bernstein cut General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $39.39.

General Mills Stock Up 3.1%

General Mills stock opened at $33.18 on Friday. 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, Inc. has a 1-year low of $31.75 and a 1-year high of $55.19. The company has a fifty day simple moving average of $34.81 and a 200 day simple moving average of $41.48. The company has a market cap of $17.71 billion, a P/E ratio of 8.11 and a beta of -0.03.

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

General Mills 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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