Handelsbanken Fonder AB Sells 22,351 Shares of General Mills, Inc. (NYSE:GIS)

Handelsbanken Fonder AB trimmed its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,087 shares of the company's stock after selling 22,351 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of General Mills worth $19,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC purchased a new position in General Mills in the fourth quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Mills in the fourth quarter worth approximately $31,000. Transce3nd LLC acquired a new position in General Mills in the fourth quarter worth approximately $32,000. VSM Wealth Advisory LLC purchased a new position in General Mills during the 4th quarter worth approximately $32,000. Finally, Perkins Coie Trust Co grew its stake in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of NYSE:GIS traded down $1.24 on Friday, hitting $53.50. The stock had a trading volume of 4,343,666 shares, compared to its average volume of 4,548,540. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.02. 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. The firm's 50 day moving average price is $55.38 and its 200-day moving average price is $59.25.

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

Analyst Upgrades and Downgrades

GIS has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. UBS Group lowered their price objective on shares of General Mills from $54.00 to $52.00 and set a "sell" rating on the stock in a research note on Friday, June 6th. Barclays cut their price objective on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a research report on Monday, March 17th. Finally, Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.44.

General Mills Company 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.