Novem Group Makes New Investment in General Mills, Inc. $GIS

Key Points

• Novem Group invested approximately $905,000 in General Mills, acquiring 17,464 shares during the second quarter.
• Insider Jacqueline Williams-Roll sold 4,000 shares of General Mills at an average price of $50.04, reducing her ownership by 5.67%.
• General Mills reported earnings of $0.86 EPS, exceeding estimates, despite facing a 6.8% decline in quarterly revenue year-over-year.

Novem Group purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,464 shares of the company's stock, valued at approximately $905,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. Garde Capital Inc. grew its position in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company's stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Perkins Coie Trust Co boosted its position in shares of General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after acquiring an additional 211 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of General Mills during the 2nd quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the 1st quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills during the 1st quarter valued at about $34,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% 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 link. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

GIS has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Bank of America decreased their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and decreased their target price for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, September 18th. Finally, Jefferies Financial Group cut their price target on shares of General Mills from $51.00 to $50.00 and set a "hold" rating for the company in a report on Monday, September 8th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.82.

General Mills Trading Up 1.3%

Shares of GIS stock opened at $50.09 on Friday. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $74.98. The company has a market capitalization of $26.72 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.25 and a beta of -0.02. The firm has a 50-day moving average price of $49.77 and a 200 day moving average price of $53.39. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the firm posted $1.07 EPS. The firm's quarterly revenue was down 6.8% on a year-over-year basis. Research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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