General Mills, Inc. $GIS Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs increased its stake in General Mills by 18.7% in the fourth quarter, adding 935,679 shares and bringing its holding to 5.93 million shares worth about $275.6 million.
• General Mills reported weaker-than-expected quarterly results, with 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.
• Analysts remain cautious on the stock, with several firms cutting price targets and the overall consensus rating listed as “Reduce”; shares were recently trading near $33.18, close to their 52-week low.

Goldman Sachs Group Inc. raised its position in General Mills, Inc. (NYSE:GIS - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,926,607 shares of the company's stock after buying an additional 935,679 shares during the period. Goldman Sachs Group Inc. owned about 1.11% of General Mills worth $275,587,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in General Mills in the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC boosted its holdings in General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock worth $27,000 after buying an additional 337 shares during the last quarter. Close Asset Management Ltd acquired a new position in shares of General Mills during the 3rd quarter worth approximately $28,000. Activest Wealth Management grew its position 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 purchasing an additional 472 shares in the last quarter. Finally, Binnacle Investments Inc grew its position 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 purchasing an additional 500 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Up 3.1%

NYSE:GIS opened at $33.18 on Friday. 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 stock's fifty day moving average is $34.81 and its two-hundred day moving average is $41.48. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $55.19. The stock has a market capitalization of $17.71 billion, a price-to-earnings ratio of 8.11 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results 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 return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. Research analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current year.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction 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 transaction, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction 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 owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of analyst reports. UBS Group dropped their price target on General Mills from $35.00 to $30.00 and set a "sell" rating for the company in a research report on Tuesday. Wells Fargo & Company dropped their price target on General Mills from $33.00 to $30.00 and set an "underweight" rating for the company in a research report on Monday, May 18th. Bank of America dropped their price target on General Mills from $42.00 to $36.00 and set a "neutral" rating for the company in a research report on Thursday, May 28th. BTIG Research initiated coverage on General Mills in a research report on Monday, April 13th. They issued a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $38.00 to $32.00 and set a "hold" rating for the company in a research report on Monday, March 30th. 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 company. Based on data from MarketBeat.com, General Mills has an average rating of "Reduce" and an average price target 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.

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