General Mills, Inc. $GIS Shares Sold by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. has reduced its stake in General Mills by 6.7%, selling 6,880 shares and now holding 96,192 shares valued at approximately $4.98 million.
• General Mills' stock ratings have varied, with Morgan Stanley downgrading its target price to $48, while Royal Bank of Canada upgraded it to "outperform" but lowered the target to $63.
• General Mills reported earnings of $0.86 per share for the last quarter, exceeding analyst estimates, but revenue fell by 6.8% year-over-year, totaling $4.52 billion.

Meyer Handelman Co. lowered its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,192 shares of the company's stock after selling 6,880 shares during the quarter. Meyer Handelman Co.'s holdings in General Mills were worth $4,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. boosted its position in General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company's stock valued at $27,000 after purchasing an additional 264 shares during the period. Perkins Coie Trust Co boosted its position in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares during the period. Armstrong Advisory Group Inc. acquired a new position in General Mills during the 2nd quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new position in General Mills during the 1st quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in General Mills during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley cut their target price on General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, September 15th. Barclays cut their target price on General Mills from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Friday, September 19th. UBS Group cut their target price on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a research note on Thursday, September 18th. Bank of America cut their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and cut their target price for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, General Mills has a consensus rating of "Hold" and an average price target of $55.82.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company's stock.

General Mills Price Performance

NYSE:GIS opened at $49.42 on Friday. The business's 50-day moving average price is $49.78 and its 200 day moving average price is $53.47. The firm has a market cap of $26.36 billion, a P/E ratio of 9.34, a PEG ratio of 1.29 and a beta of -0.02. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $74.98. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.General Mills's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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