General Mills, Inc. $GIS Shares Bought by Alps Advisors Inc.

Key Points

• Alps Advisors Inc. increased its General Mills stake by 9.1% in the fourth quarter, adding 45,683 shares to bring its total to 546,872 shares valued at about $25.4 million.
• Several insiders sold shares on May 12, including Ricardo Fernandez and Jacqueline Williams-Roll, who both reduced their positions by roughly 10% to 11% through separate transactions.
• General Mills reported weaker-than-expected quarterly results, with EPS of $0.64 and revenue of $4.44 billion missing estimates; analysts now have a consensus rating of “Reduce” with a target price of $39.39.

Alps Advisors Inc. boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 546,872 shares of the company's stock after acquiring an additional 45,683 shares during the quarter. Alps Advisors Inc. owned about 0.10% of General Mills worth $25,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in General Mills during the third quarter worth $25,000. Bruce G. Allen Investments LLC grew its stake 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 in the last quarter. Close Asset Management Ltd acquired a new stake in shares of General Mills in the third quarter valued at $28,000. Zions Bancorporation National Association UT grew its stake in shares of General Mills by 248.1% in the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock valued at $29,000 after buying an additional 449 shares in the last quarter. Finally, Activest Wealth Management grew its stake in shares of General Mills by 211.7% in the fourth quarter. Activest Wealth Management now owns 695 shares of the company's stock valued at $32,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Insider Activity

In other news, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was 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 approximately $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider directly owned 86,002 shares of the company's stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company's stock.

General Mills Trading Up 0.0%

GIS opened at $33.84 on Friday. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $55.13. The stock has a market capitalization of $18.06 billion, a price-to-earnings ratio of 8.27 and a beta of -0.03. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The business has a fifty day moving average price of $34.56 and a 200 day moving average price of $41.04.

General Mills (NYSE:GIS - Get Free Report) last released its 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 company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. Sell-side analysts expect that General Mills, Inc. will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price objective on General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Morgan Stanley dropped their price objective on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a research note on Friday, June 5th. Piper Sandler dropped their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Finally, Bank of America dropped their price objective on General Mills from $42.00 to $36.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $39.39.

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.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.