National Pension Service Raises Holdings in General Mills, Inc. $GIS

Key Points

• National Pension Service boosted its stake in General Mills by 10.7% in the fourth quarter, buying 98,018 more shares and bringing its total holdings to 1,014,740 shares worth about $47.2 million.
• Analyst sentiment remains cautious, with General Mills carrying a consensus rating of “Reduce” and an average price target of $41.78; recent moves included price-target cuts and a downgrade to “strong sell” from Zacks.
• The company’s latest earnings missed expectations, with quarterly EPS of $0.64 versus $0.73 expected and revenue of $4.44 billion versus $4.53 billion expected, while shares were trading near $33.82, close to the 1-year low.

National Pension Service increased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,014,740 shares of the company's stock after buying an additional 98,018 shares during the quarter. National Pension Service owned about 0.19% of General Mills worth $47,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills in the 3rd quarter worth $25,000. Close Asset Management Ltd purchased a new position in shares of General Mills in the 3rd quarter worth $28,000. Binnacle Investments Inc increased its holdings in General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in General Mills in the 3rd quarter valued at $34,000. Finally, Activest Wealth Management increased its holdings in General Mills by 211.7% in the 4th quarter. Activest Wealth Management now owns 695 shares of the company's stock valued at $32,000 after purchasing an additional 472 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GIS shares. BTIG Research started coverage on General Mills in a report on Monday, April 13th. They issued a "neutral" rating for the company. Stifel Nicolaus lowered their price target on General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Evercore set a $45.00 price target on General Mills in a report on Wednesday, February 18th. Wells Fargo & Company lowered their price target on General Mills from $33.00 to $30.00 and set an "underweight" rating for the company in a report on Monday, May 18th. Finally, Zacks Research downgraded General Mills from a "hold" rating to a "strong sell" rating in a report on Thursday, February 19th. Four investment 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 MarketBeat.com, General Mills currently has an average rating of "Reduce" and a consensus price target of $41.78.

Insider Buying and Selling

In other news, insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company's stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the insider directly owned 86,002 shares of the company's stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by company insiders.

General Mills Stock Up 0.0%

Shares of General Mills stock opened at $33.82 on Monday. The business has a 50-day moving average of $35.22 and a 200-day moving average of $41.94. 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 $18.05 billion, a PE ratio of 8.27 and a beta of -0.03. General Mills, Inc. has a 1-year low of $32.64 and a 1-year high of $55.19.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported $0.64 EPS 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 business had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same quarter last year, the company posted $1.12 earnings per share. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts forecast that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

About General Mills

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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