Northwestern Mutual Wealth Management Co. Acquires 120,349 Shares of General Mills, Inc. $GIS

Key Points

• Northwestern Mutual Wealth Management significantly increased its stake in General Mills during the fourth quarter, buying 120,349 additional shares and lifting its holdings by 198.9% to 180,868 shares worth about $8.41 million.
• General Mills reported weaker-than-expected quarterly results, posting $0.64 EPS versus the $0.73 estimate and revenue of $4.44 billion, with sales down 8.4% year over year.
• Wall Street sentiment remains cautious: several analysts cut price targets, and the stock carries a consensus rating of “Reduce” with an average price target of $42.44.

Northwestern Mutual Wealth Management Co. lifted its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 198.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,868 shares of the company's stock after buying an additional 120,349 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in General Mills were worth $8,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC boosted its position in General Mills by 10.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 27,809 shares of the company's stock valued at $1,293,000 after purchasing an additional 2,518 shares in the last quarter. Allworth Financial LP raised its stake in General Mills by 10.8% in the fourth quarter. Allworth Financial LP now owns 27,020 shares of the company's stock valued at $1,256,000 after buying an additional 2,637 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in General Mills by 491.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 13,874 shares of the company's stock valued at $645,000 after buying an additional 11,527 shares during the last quarter. Independent Advisor Alliance raised its stake in shares of General Mills by 4.4% in the fourth quarter. Independent Advisor Alliance now owns 46,495 shares of the company's stock worth $2,162,000 after purchasing an additional 1,972 shares during the last quarter. Finally, World Investment Advisors raised its stake in shares of General Mills by 91.6% in the fourth quarter. World Investment Advisors now owns 17,267 shares of the company's stock worth $803,000 after purchasing an additional 8,257 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Stock Up 0.7%

General Mills stock opened at $33.71 on Friday. The firm has a market cap of $17.99 billion, a price-to-earnings ratio of 8.24 and a beta of -0.02. General Mills, Inc. has a 52 week low of $32.64 and a 52 week high of $55.19. The business's 50-day moving average price is $35.74 and its 200 day moving average price is $42.42. 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 posted 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 return on equity of 19.19% and a net margin of 12.05%.The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the business earned $1.12 earnings per share. The firm's revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that General Mills, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GIS shares. Mizuho reduced their price objective on General Mills from $47.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, March 19th. The Goldman Sachs Group reduced their price objective on General Mills from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, March 19th. TD Cowen reduced their price objective on General Mills from $45.00 to $37.00 and set a "hold" rating for the company in a research note on Thursday, March 19th. Evercore set a $45.00 price objective on General Mills in a research note on Wednesday, February 18th. Finally, Zacks Research cut General Mills from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $42.44.

Insider Activity at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, 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 approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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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