Norges Bank Buys New Position in General Mills, Inc. $GIS

Norges Bank bought a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,775,312 shares of the company's stock, valued at approximately $361,552,000. Norges Bank owned 1.46% of General Mills at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GIS. Vermillion & White Wealth Management Group LLC acquired a new stake in General Mills in the 3rd quarter valued at about $25,000. Close Asset Management Ltd acquired a new stake in General Mills in the 3rd quarter valued at about $28,000. Activest Wealth Management raised its position 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. Binnacle Investments Inc raised its position 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. Finally, Quest 10 Wealth Builders Inc. raised its position in General Mills by 190.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company's stock valued at $34,000 after purchasing an additional 483 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group cut their target price on General Mills from $40.00 to $35.00 and set a "sell" rating on the stock in a research report on Thursday, March 19th. Barclays cut their target price on General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, May 11th. Morgan Stanley reduced their price objective on General Mills from $47.00 to $44.00 and set an "underweight" rating for the company in a research note on Wednesday, February 18th. Stifel Nicolaus lowered their target price on shares of General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein cut their target price on shares of General Mills from $53.00 to $48.00 and set a "market perform" rating on the stock in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $41.78.

General Mills Stock Performance

NYSE GIS opened at $33.63 on Tuesday. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two week high of $55.19. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 8.22 and a beta of -0.03. The business has a fifty day moving average of $35.14 and a 200-day moving average of $41.85. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS - Get Free Report) last released 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). The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business's revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. As a group, analysts predict that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. 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 Company 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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