Parallel Advisors LLC Sells 7,429 Shares of General Mills, Inc. (NYSE:GIS)

Parallel Advisors LLC trimmed its position in General Mills, Inc. (NYSE:GIS - Free Report) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,654 shares of the company's stock after selling 7,429 shares during the quarter. Parallel Advisors LLC's holdings in General Mills were worth $876,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in General Mills by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock valued at $4,376,573,000 after acquiring an additional 1,868,508 shares during the last quarter. Geode Capital Management LLC boosted its position in General Mills by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company's stock valued at $923,907,000 after buying an additional 136,895 shares in the last quarter. Ameriprise Financial Inc. boosted its position in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock valued at $581,903,000 after buying an additional 2,341,137 shares in the last quarter. Northern Trust Corp boosted its position in General Mills by 18.4% in the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company's stock valued at $514,101,000 after buying an additional 1,253,483 shares in the last quarter. Finally, Norges Bank acquired a new stake in General Mills in the fourth quarter valued at approximately $496,484,000. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company's stock, valued at $22,967,490. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

General Mills Trading Up 0.8%

Shares of NYSE:GIS traded up $0.42 during mid-day trading on Wednesday, reaching $54.73. 2,593,324 shares of the company's stock were exchanged, compared to its average volume of 5,430,379. The firm has a market capitalization of $30.17 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.94 and a beta of 0.05. The business's fifty day moving average price is $56.14 and its 200-day moving average price is $59.81. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a twelve month low of $52.39 and a twelve month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.17 earnings per share. General Mills's quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIS. JPMorgan Chase & Co. cut their target price on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Jefferies Financial Group raised their target price on shares of General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Barclays cut their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 18th. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup cut their target price on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $64.69.

About General Mills

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.