LSV Asset Management Has $187.55 Million Stock Position in General Mills, Inc. $GIS

Key Points

• LSV Asset Management increased its stake in General Mills by 32.4% in the fourth quarter, buying 986,050 additional shares and bringing its holding to 4,033,350 shares valued at about $187.6 million.
• General Mills reported weaker-than-expected quarterly results, with EPS of $0.64 versus estimates of $0.73 and revenue of $4.44 billion versus expectations of $4.53 billion. Revenue also fell 8.4% year over year.
• Analysts have turned more cautious on the stock, with multiple price target cuts and an overall average rating of "Reduce" and an average price target of $42.44.

LSV Asset Management lifted its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 32.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,033,350 shares of the company's stock after purchasing an additional 986,050 shares during the quarter. LSV Asset Management owned 0.76% of General Mills worth $187,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Planning Co of New England Inc. boosted its position in shares of General Mills by 4.2% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company's stock valued at $273,000 after purchasing an additional 219 shares during the period. Smith Moore & CO. boosted its position in shares of General Mills by 2.6% in the 3rd quarter. Smith Moore & CO. now owns 8,785 shares of the company's stock valued at $443,000 after purchasing an additional 225 shares during the period. Allegheny Financial Group boosted its position in shares of General Mills by 4.8% in the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock valued at $228,000 after purchasing an additional 226 shares during the period. Stonebridge Capital Advisors LLC boosted its position in shares of General Mills by 0.7% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock valued at $1,702,000 after purchasing an additional 226 shares during the period. Finally, Tempus Wealth Planning LLC lifted its stake in General Mills by 5.7% in the 3rd quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company's stock worth $217,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Up 0.7%

GIS opened at $33.71 on Friday. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two week high of $55.19. The business has a 50-day moving average of $35.74 and a 200-day moving average of $42.42. 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 $17.99 billion, a PE ratio of 8.24 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last posted 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 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 analysts' expectations of $4.53 billion. During the same period last year, the business earned $1.12 earnings per share. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts forecast that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GIS. Sanford C. Bernstein reduced their price objective on General Mills from $53.00 to $48.00 and set a "market perform" rating for the company in a research note on Wednesday, February 18th. Stifel Nicolaus reduced their price objective on General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Royal Bank Of Canada reduced their price objective on General Mills from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $42.44.

Insider Transactions at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company's stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company's stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.

General Mills 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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