General Mills, Inc. $GIS Holdings Raised by BNP Paribas

Key Points

• BNP Paribas massively increased its stake in General Mills in Q4, boosting holdings by 7,219.6% to 69,536 shares worth about $3.23 million. Several other hedge funds also added to or initiated positions, and institutional investors now own 75.71% of the stock.
• General Mills reported weaker-than-expected quarterly results, posting EPS of $0.64 versus the $0.73 consensus and revenue of $4.44 billion versus $4.53 billion expected. Revenue fell 8.4% year over year, though the company still posted a 12.05% net margin and 19.19% return on equity.
• Analysts remain cautious on GIS, with recent target cuts from firms including UBS, Bank of America, Deutsche Bank, and JPMorgan. The stock has an average “Reduce” rating and a consensus price target of $41.78, while shares recently traded near $33.63, close to the 52-week low.

BNP Paribas grew its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 7,219.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,536 shares of the company's stock after purchasing an additional 68,586 shares during the period. BNP Paribas' holdings in General Mills were worth $3,234,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GIS. Marshall Wace LLP purchased a new stake in shares of General Mills during the second quarter valued at $9,188,000. Bank of Nova Scotia lifted its holdings in shares of General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock valued at $3,374,000 after purchasing an additional 2,552 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock valued at $465,000 after purchasing an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. raised its position in General Mills by 4.9% during the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after buying an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC raised its position in General Mills by 334.2% during the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock valued at $1,012,000 after buying an additional 15,041 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $33.63 on Tuesday. 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 firm has a market cap of $17.95 billion, a price-to-earnings ratio of 8.22 and a beta of -0.03. The business's 50-day simple moving average is $35.14 and its 200-day simple moving average is $41.85. General Mills, Inc. has a 52 week low of $32.64 and a 52 week high of $55.19.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the company posted $1.12 EPS. The business's revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Activity at General Mills

In related 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 transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the firm's 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 completion of the sale, the insider owned 62,283 shares of the company's stock, valued at $2,148,763.50. This represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GIS. UBS Group dropped their price target on General Mills from $40.00 to $35.00 and set a "sell" rating on the stock in a research report on Thursday, March 19th. Evercore set a $45.00 price target on General Mills in a research report on Wednesday, February 18th. Bank of America dropped their price target on General Mills from $42.00 to $36.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. 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. Finally, JPMorgan Chase & Co. dropped their target price on General Mills from $42.00 to $36.00 and set an "underweight" rating on the stock in a research report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $41.78.

About General Mills

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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