Gabelli Funds LLC Has $8.23 Million Stake in General Mills, Inc. $GIS

Key Points

• Gabelli Funds LLC reduced its General Mills stake by 14.7% in the fourth quarter, selling 30,600 shares and leaving it with 177,000 shares valued at about $8.23 million.
• General Mills reported weaker-than-expected quarterly results, posting EPS of $0.64 versus the $0.73 estimate and revenue of $4.44 billion versus $4.53 billion expected; revenue fell 8.4% year over year.
• Analyst sentiment has turned cautious, with several firms cutting price targets and one downgrade from Bank of America, while MarketBeat shows a consensus rating of “Reduce” and an average price target of $42.44.

Gabelli Funds LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,000 shares of the company's stock after selling 30,600 shares during the quarter. Gabelli Funds LLC's holdings in General Mills were worth $8,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of General Mills during the 3rd quarter valued at about $25,000. Close Asset Management Ltd acquired a new stake in shares of General Mills during the 3rd quarter valued at about $28,000. Activest Wealth Management raised its stake in shares of General Mills by 211.7% in the 4th quarter. Activest Wealth Management now owns 695 shares of the company's stock valued at $32,000 after acquiring an additional 472 shares in the last quarter. Binnacle Investments Inc raised its stake in shares of General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of General Mills by 190.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company's stock valued at $34,000 after acquiring an additional 483 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of NYSE GIS opened at $33.81 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The business's 50 day moving average is $36.25 and its two-hundred day moving average is $42.67. The company has a market cap of $18.04 billion, a P/E ratio of 8.27 and a beta of -0.02. General Mills, Inc. has a 12 month low of $32.79 and a 12 month high of $55.35.

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 during 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 business's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. On average, equities analysts expect that General Mills, Inc. will post 3.43 EPS for the current year.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Bank of America downgraded General Mills from a "buy" rating to a "neutral" rating and set a $48.00 price objective on the stock. in a research note on Monday, February 23rd. Evercore set a $45.00 price objective on General Mills in a research note on Wednesday, February 18th. Mizuho cut their price objective 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 cut their price objective on General Mills from $40.00 to $35.00 and set a "sell" rating on the stock in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $38.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $42.44.

Insider Activity at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company's stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills 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 transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company's stock.

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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