M&T Bank Corp Reduces Stock Holdings in General Mills, Inc. $GIS

Key Points

• M&T Bank Corp cut its stake in General Mills by 67.1% in Q4, selling 127,976 shares and ending the quarter with 62,883 shares worth $2.924 million.
• General Mills missed quarterly estimates, reporting EPS of $0.64 versus $0.73 expected and revenue of $4.44 billion versus $4.53 billion, with revenue down 8.4% year‑over‑year.
• Multiple analysts have reduced ratings and price targets, and MarketBeat shows a consensus rating of "Reduce" with a $43.22 target amid recent downgrades from firms including BofA, Morgan Stanley and Goldman Sachs.

M&T Bank Corp decreased its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 67.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,883 shares of the company's stock after selling 127,976 shares during the quarter. M&T Bank Corp's holdings in General Mills were worth $2,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in General Mills in the third quarter worth $25,000. Close Asset Management Ltd bought a new position in General Mills in the third quarter worth $28,000. Davis Capital Management bought a new position in General Mills in the third quarter worth $29,000. Salomon & Ludwin LLC raised its holdings in General Mills by 1,094.4% in the third quarter. Salomon & Ludwin LLC now owns 645 shares of the company's stock worth $32,000 after purchasing an additional 591 shares in the last quarter. Finally, Financial Consulate Inc. bought a new position in General Mills in the third quarter worth $32,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $34.75 on Tuesday. General Mills, Inc. has a 1-year low of $34.04 and a 1-year high of $57.08. 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 business has a fifty day moving average price of $39.18 and a 200-day moving average price of $44.04. The company has a market capitalization of $18.54 billion, a PE ratio of 8.50 and a beta of 0.01.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. General Mills's revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts expect that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Bank of America downgraded General Mills from a "buy" rating to a "neutral" rating and set a $48.00 price objective for the company. in a report on Monday, February 23rd. Morgan Stanley decreased their price objective on General Mills from $47.00 to $44.00 and set an "underweight" rating for the company in a report on Wednesday, February 18th. Evercore set a $45.00 price objective on General Mills in a report on Wednesday, February 18th. Sanford C. Bernstein decreased their price objective on General Mills from $53.00 to $48.00 and set a "market perform" rating for the company in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group decreased their price objective on General Mills from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $43.22.

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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