General Mills, Inc. $GIS Shares Sold by O Shaughnessy Asset Management LLC

Key Points

• O Shaughnessy Asset Management cut its General Mills stake by 14% in the fourth quarter, selling 88,138 shares and ending with 540,164 shares worth about $25.1 million.
• Several insiders sold shares in May, including Jacqueline Williams-Roll and Ricardo Fernandez, while insiders now own just 0.30% of the company.
• Analyst sentiment has turned cautious: recent downgrades and lower price targets from firms like Sanford C. Bernstein, Wells Fargo, and UBS helped drive the consensus rating to “Reduce.”

O Shaughnessy Asset Management LLC lessened its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 14.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 540,164 shares of the company's stock after selling 88,138 shares during the period. O Shaughnessy Asset Management LLC owned about 0.10% of General Mills worth $25,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. State Street Corp grew its stake in shares of General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company's stock valued at $1,700,060,000 after buying an additional 145,701 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock worth $704,170,000 after acquiring an additional 172,200 shares in the last quarter. Norges Bank acquired a new position in General Mills during the 4th quarter worth about $361,552,000. Invesco Ltd. boosted its holdings in General Mills by 13.0% during the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company's stock valued at $386,469,000 after acquiring an additional 883,150 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in General Mills by 18.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,926,607 shares of the company's stock valued at $275,587,000 after acquiring an additional 935,679 shares during the period. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by insiders.

General Mills Trading Down 0.1%

NYSE GIS opened at $33.13 on Tuesday. The firm's fifty day moving average price is $34.75 and its 200 day moving average price is $41.34. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $55.19. 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 company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 8.10 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share 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 during the quarter, compared to analysts' expectations of $4.53 billion. During the same period last year, the firm earned $1.12 earnings per share. General Mills's revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein downgraded shares of General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research note on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of General Mills from $33.00 to $30.00 and set an "underweight" rating for the company in a research report on Monday, May 18th. Evercore set a $45.00 price target on shares of General Mills in a research note on Wednesday, February 18th. UBS Group cut their price objective on General Mills from $35.00 to $30.00 and set a "sell" rating on the stock in a research report on Tuesday, June 2nd. Finally, Piper Sandler reduced their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company's stock. Based on data from MarketBeat, General Mills currently has a consensus 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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